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Cobram Estate Olives Ltd. ( (AU:CBO) ) has shared an update.
Cobram Estate Olives Ltd. has successfully completed a $175 million institutional placement to fund its growth strategy in the USA, which includes purchasing additional farmland and developing 1,600 hectares of olive groves in California. This expansion is expected to significantly increase the company’s production capacity, aiming to produce over 9 million liters of olive oil annually by the end of 2027. The move is part of CBO’s strategy to replicate its Australian success in the US market, where olive oil sales have been growing robustly. The funds will also support land acquisitions and grove developments, with the USA poised to become CBO’s largest market.
The most recent analyst rating on (AU:CBO) stock is a Hold with a A$2.90 price target. To see the full list of analyst forecasts on Cobram Estate Olives Ltd. stock, see the AU:CBO Stock Forecast page.
More about Cobram Estate Olives Ltd.
Cobram Estate Olives Ltd. operates in the olive oil industry, focusing on the production and sale of olive oil products. The company is known for its high-quality olive oil and has a significant market presence in both Australia and the USA, with a strategic focus on expanding its operations in the United States.
Average Trading Volume: 503,669
Technical Sentiment Signal: Buy
Current Market Cap: A$1.35B
See more insights into CBO stock on TipRanks’ Stock Analysis page.