Morgans downgrades Nufarm Limited (NUFMF) to a Hold
In a report released today, Belinda Moore from Morgans downgraded Nufarm Limited (NUFMF – Research Report) to a Hold, with a price target of A$2.78. The company's shares closed last Friday at $2.68.
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Moore covers the Basic Materials sector, focusing on stocks such as Orica Limited, Incitec Pivot , and Nufarm Limited. According to TipRanks, Moore has an average return of 5.1% and a 53.57% success rate on recommended stocks.
In addition to Morgans, Nufarm Limited also received a Hold from Morgan Stanley's Andrew Scott in a report issued today. However, on the same day, Bell Potter maintained a Buy rating on Nufarm Limited (Other OTC: NUFMF).
The company has a one-year high of $3.58 and a one-year low of $1.97. Currently, Nufarm Limited has an average volume of 130.
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LYV, DKNG, SPOT: Bernstein Selects the Best Entertainment Stocks to Buy Right Now
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From an investing perspective, Moore points out where today's gems can be discovered in the Entertainment sector: 'We expect the experience economy to continue to run hot as live music & sports venues scramble to meet seemingly insatiable demand for ultra-luxury VIP packages. Online, we believe music DSPs will meet strong demand for higher-priced subscription tiers, while high-rolling live bettors continue to expand their presence within sports betting. Although catering to this smaller cohort could cause growth in casual fans to slow, we expect profitability growth to accelerate meaningfully for companies that lead in accumulating business from superfans.' With all that as backdrop, Moore highlights three entertainment stocks he believes are well-positioned to thrive in today's market: Live Nation (NYSE:LYV), DraftKings (NASDAQ:DKNG), and Spotify (NYSE:SPOT). Together, they span live events, online sports betting, and music streaming – all major outlets for today's experience-driven consumer spending. Let's give the Bernstein picks a closer look. Live Nation Entertainment First up is Bernstein's top pick, Live Nation Entertainment. This company is one of the largest names in the event production segment, with a market cap of $33 billion and annual revenues of $23 billion last year. Live Nation's core business is bringing performance artists to the world's stages. Among the acts that Live Nation has recently brought to the stage are such big names as Imagine Dragons, Disturbed, the Backstreet Boys, and Bruno Mars. The company operates through three main segments, Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship, with concerts being the prime revenue generator. The concert business is extensive. 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(See LYV stock forecast) DraftKings Next up is a leader in the field of sports betting, DraftKings. This company, founded in 2012, is a fast-growing player in the US betting market, offering a range of products that include sportsbook and fantasy league platforms. The company's betting products cover most of the world's major sports and leagues, American football, Major League baseball, the NBA, the NHL, international soccer, and the hugely popular – although non-pro – college hoops. DraftKings is also a major platform for fantasy leagues, which let fans and bettors put some skin in the game, by making pre-game choices on players and line-ups that will mix with the game results to determine how the bets work out. Sports betting is legal in about half the states of the Union, a fact that presents DraftKings with a patchwork quilt of regulatory regimes to navigate – which it manages successfully. 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