Jefferies downgrades rating, cuts PT alongside Citi on Australia's Nufarm on results, outlook

Jefferies downgrades rating on Australia's Nufarm NUF.AX to "underperform" from "hold"; cuts PT to A$1.96 from A$4.40

Agricultural technology firm posted lower HY statutory net profit after tax of A$29.8 million ($19.20 million), vs A$49.2 million reported last year

Brokerage says the company reported "soft" first half results, missing consensus EBITDA and EPS by 15% and 18%, respectively

Poor outcomes around Aquaterra (Omega-3 Canola) suggest little additional value can be ascribed to this business in near term - Jefferies

Aquaterra is a land-based source of long-chain omega-3 fatty acids, a fish-nutrition complement

Citi trims its PT for NUF to A$2.60 from A$3.75, retains 'sell' rating

Brokerage reduces its FY25 EBITDA forecasts by 16%, driven by softer contributions from Seed Tech, also expects Omega-3 losses to compound from here on

Three of 11 analysts rate the stock "buy" or higher, seven "hold" and one "sell" or lower; their median PT is A$4.49, according to data compiled by LSEG

Stock has fallen 20.6% this year, as of last close

($1 = 1.5521 Australian dollars)