Agricultural business ELD has rallied strongly in 2022 helped by its 22% lift in revenue over the past year as beneficial conditions such as rainfall have continued. The stocks on an ok valuation while an estimated 3% yield over the next 12-months is an added attraction although we all know how the weather patterns can change so dramatically. We wouldn’t be calling ELD a sell at this stage but if we were long it would probably be a candidate for at least realising a partial profit.
MM is neutral ELD around $14
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