Synlait faces the choice of the lesser evil in dealing with debt issues

(Image: Synlait)

Thu, 18 Jan 2024

Synlait Milk is faced with “choosing the lesser of two evils” to resolve its debt problem, analysts from Craigs Investment Partners said. Senior research analyst Stephen Ridgewell and associate research analyst Ryan Li retained a neutral rating but slashed the target price from $1.55 to 90 cents. The shares are currently trading at around 95 cents. A lot of debtSynlait needs to refinance $310 million of debt over the next 12 months, including $130m repayment to its bankers by March 31 and repayment of $180m of re...

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