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Nufarm Ltd (NUF) $4.59

Yesterday saw NUF’s stock plunge 8.57% making it the worst performer in the ASX200, the Agribusiness released its annual results and while it may have grown revenue it suffered because of rising freight and storage costs. Most importantly it cautioned investors that the rising costs of materials and supply chain issues would damage margins however they do have the ability to hike prices to maintain profitability.

We like Nufarm’ s business mix moving forward as demand should increase for its Agri-chemicals in line with the worlds ever increasing need for more food. This is undoubtedly a potential turnaround story although there are no catalysts to start buying just yet.

NUF
MM believes NUF will be interesting around $4
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Nufarm Ltd (NUF)
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