Share ForFarmers excels on Damrak

The ForFarmers share has been one of the largest risers on the Midkap since today, April 20. According to John David Roeg, NIBC analyst, the feed manufacturer refutes excellent results and its net cash position is at war strength. 

NIBC therefore raised the price target for ForFarmers from 8,30 to 9,10 euros, with an unchanged buy recommendation. However, this one was already unsubscribed for purchase. The upwardly revised price target is also a result of a more optimistic view of future results. The introduced share buyback program is also in favor.  

Due to the acquisition plans, in combination with the current acquisition prices, ForFarmers has the capacity to add 90 percent to the turnover and 70 percent to the net profit with the use of the war chest. ForFarmers has approximately 500 million euros available for making acquisitions.

Day winner 
The ForFarmers share reacts positively to the statements and the adjusted price target. The stock closed 1,3 percent higher yesterday at 8,20 euros. Today the upward momentum continued and ForFarmers was even the biggest climber on the Midkap. With a profit of 3,8 percent, the share traded at 5 euros at half past four, one hour before closing.   

Wouter Job

Wouter Baan is editor-in-chief of Boerenbusiness. He also focuses on dairy, pig and meat markets. He also follows (business) developments within agribusiness and interviews CEOs and policymakers.

w.baan@boerenbusiness. Nl

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