Jarden shaves 23% off Seeka target price

Seeka is a major exporter of kiwifruit. (Image: BusinessDesk)

Thu, 22 Jun 2023

Jarden is revising downwards its 12-month target price for major kiwifruit exporter Seeka following Wednesday’s downgraded earnings guidance.The target price fell 23%, from $2.85 to $2.20, and its underweight rating was retained.Jarden said the New Zealand stock exchange-listed company continued to present as a difficult agri-based investment case “given the spot harvest issues, ongoing Capex burdens to improve unit costs and high debt loading”.It said the key concerns were harvest risk, SunGold growth and cost out execution.H...

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