Delegat's wine harvest headache didn't trigger a Jarden downgrade

Harvest is down 25% on last year. (Image: Delegat)

Mon, 06 May 2024

A dismal harvest update from wine exporter Delegat Group didn’t trigger a downgrade from Jarden but did lead to a lower 12-month target price. “While this harvest represents a material setback for the next two years, we continue to see valuation support, and our rating remains Overweight,” Jarden analyst Christian Bell said.However, the target price is now $7.35 versus $7.75. The shares were trading at $6.10 late last week. Last week, Delegat told the New Zealand stock exchange (NZX) that the group’s 2024...

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