Equities

There is no change to our Buy rating. We see NUF as better placed to navigate a normalisation in Australian demand levels, given recovering acreages in North America and Europe.

There is no change in our forecasts for Altium which we last updated in early November. We have updated the PT to $45.00 and downgraded our recommendation from BUY to HOLD.

We largely anticipated a vanilla AGM for DGL as the company begins working through the initial stages of integrating a combined seven new businesses ($69.5m), or 25 new sites, into its Trans-Tasman chemicals logistics network.

The Dec’21 ABARES crop report highlighted an east coast winter crop forecast of 29.1mt above last year’s previous high of 28.6mt.

NIC announced it has signed a Memorandum of Understanding. We reinforce NIC as one of our top picks in the sector and we retain our Buy recommendation.

The ACCC will not oppose NAB’s buy of the Citi consumer business as the transaction should not lessen competition.