Forsyth Barr cuts Synlait target share price, earnings forecasts

On Monday, Synlait shares were trading around 97c, down from around $3.60 this time last year. (Image: NZME)

Tue, 09 Jan 2024

Forsyth Barr has cut its target price for Synlait, forecasting a full-year net loss of $3.5 million for the troubled dairy company.Synlait – which recently fell out of the NZX50 – is facing a number of issues, including its elevated debt levels and a dispute with milk marketer The a2 Milk Company over a commercial agreement between the pair, which is heading to arbitration.The dispute arose after a2 Milk cancelled the exclusivity part of the agreement because it believed Synlait’s delivery and performance during the...

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