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GrainCorp's Report Shifts East Coast Australia Outlook to Solidly Above-10-Year Average Outcome, Jefferies Says

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GrainCorp's (ASX:GNC) September report effectively shifted the East Coast Australia outlook from a below-trend crop in June to a solidly above-10-year average outcome, Jefferies said in a Friday note.

The East Coast winter crop forecast increased to 26.6 million tonnes in September from 23.8 million tonnes in June.

The better East Coast Australia grain output comes at a time of increasing global grain tightness, particularly out of Europe and the Black Sea. The firm noted new export opportunities following recent strengthening of global grain prices.

The brokerage upwardly revised its fiscal 2026 to fiscal 2028 earnings per share forecast by 18% to 23%.

The investment firm maintained its buy recommendation on GrainCorp with a price target of AU$7.50 per share.

What else is happening in Asia?

Asia

Newlink Technology's Potential Acquisition of HK Ant Global Investment Falls Through

Newlink Technology (HKG:9600) terminated a memorandum of intent for the potential acquisition of HK Ant Global Investment.The parties had entered the memorandum in May, a Friday bourse filing showed.

HKG:9600
Asia

New Concepts Raises HK$4.9 Million from Share Issue

New Concepts Holdings (HKG:2221) completed the issue of 5 million new shares to Du Lei to raise net proceeds of nearly HK$4.9 million.The parties had entered into the share subscription agreement earlier in September, a Friday bourse filing showed.The construction company plans to use proceeds for general working capital.

HKG:2221
Asia

Eternity Investment Unit, Director Dispose Of Stake in China Healthwise

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HKG:0348HKG:0764