Analysts upbeat about Scales lifting its apple game

Scales is acquiring orchards from Bostock group and selling two of its existing sites. (Image: Unsplash)

Mon, 20 May 2024

Analysts are upbeat on Scales after it agreed a deal to snap up 240 hectares of largely premium variety orchards, a move that will improve its orchard mix. Forsyth Barr analysts now have a 12-month target price of $4.15, up from $3.95, while Jarden’s target price is also $4.15, up from $4.The shares were trading at $3.30 at Friday's close.Late last week, Scales (SCL) announced it had agreed to acquire a mix of owned and leased land from Bostock Group.The 240ha includes approximately 114ha of owned orchards and the assignment of a...

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