This report is an updated version of the report published on 21 October at 7:10 PM (GMT +13)

Allied Farmers Limited

Allied Farmers Limited (NZX: ALF) is an investment company. The Company is focused on the agricultural sector.

Recommendation Rationale – Sell at NZD 0.82

• ALF stated that FY 2025 profit was lower YoY because of the one-off $4.2 Mn gain on the book value of the sale and licence back by NZ Farmers Livestock Limited of its interest in the Frankton saleyards, of which $2.85 Mn was attributable to ALF’s shareholders.
• Also, the company’s basic EPS decreased by 44.4% to 9.97 cps. With respect to NZFL, the company also highlighted that potential impacts from the ongoing US tariff, geopolitical uncertainties as well as related movements are unclear.
• The company’s share price is trading close to its R1 level recommended on 18^th September. Therefore, there can be a possible decline from the specified resistance levels.

ALF’s Daily Price Chart

Considering the increasing volatility over global equity market, inflationary pressures, geopolitical tensions, etc. it is prudent to book profit at the current levels. Hence, a ‘Sell’ rating has been provided on the stock at the closing price of NZD 0.820 per share as on 21st October 2025. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 21 October 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.