Jefferies has increased its price target for GrainCorp (GNC) from $9.20 to $9.70, reaffirming its ‘buy’ rating for the Australian agribusiness. The revised target reflects expectations of increased winter crop production in the 2025-2026 season.
According to Jefferies, Australia’s winter crop production is projected to rise by 2 per cent to 62 million metric tons in 2025-2026. If realised, this would be the third-highest winter crop production on record for the country. GrainCorp is a leading Australian agribusiness and grain exporter, connecting growers with customers through its storage, processing, and marketing operations.
Despite the positive outlook for winter crops, Jefferies has adjusted its earnings forecast for GrainCorp’s oilseeds processing division, reducing it by 17 per cent. This adjustment is attributed to anticipated weaker crush margins in that segment.
Based on data compiled by LSEG, a consensus of analysts covering GrainCorp shows a generally positive sentiment. Out of eight analysts, nine rate the stock as ‘buy’ or higher, while one analyst has a ‘hold’ rating. The median price target among these analysts is $9.10.
