Jarden drops Synlait 12-month share price target 9.2% on back of weak half-year results

Tue, 28 Mar 2023

Jarden has reduced its 12-month target share price on Synlait Milk by 9.2% in the wake of weak half-year 2023 results, dropping its forecast from $3.25 to $2.95.Yesterday, the company reported a net profit of $4.8 million in the six months ended Jan 31, down from $27.9m a year earlier. Jarden said that had been foreshadowed by a profit warning two weeks ago.The key factor in Jarden's downgraded target price was a large increase in Synlait's cost of doing business, which was offset by a better gross margin. That higher selling, general a...

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