GrainCorp shares tick down after Bell Potter downgrade
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The news: Shares in GrainCorp fell in morning trade after Bell Potter analysts downgraded their recommendation on the commodity trader’s stock from ‘buy’ to ‘hold’ but left its target price unchanged.
The numbers: At 11:50am AEDT, shares in Graincorp had slipped 2.9% to $8.72. Bell Potter’s 12-month target price on the stock is $9.10.
The context: Graincorp downgraded the stock as recent share price gains in response to the September 2025 Australian Bureau of Agricultural and Resource Economics and Sciences crop production report had put the stock “at a level broadly comparable to our target price”.
The Bell Potter research note said that current indicators for 2025-26 east coast crop size, canola crush margins and grain trading margins “while volatile look within the band of outcomes to support our FY26 forecast”.
The source: Bell Potter research
