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Synlait Milk Ltd. ( (AU:SM1) ) just unveiled an announcement.
Synlait Milk Limited has announced a temporary increase in its banking facilities with a new NZ$50 million Revolving Credit Facility to address working capital needs due to manufacturing challenges earlier in the year. Despite these challenges, Synlait remains compliant with its banking covenants and plans to reduce debt significantly by using proceeds from the sale of North Island assets, pending shareholder approval and expected completion by April 2026.
The most recent analyst rating on (AU:SM1) stock is a Hold with a A$0.72 price target. To see the full list of analyst forecasts on Synlait Milk Ltd. stock, see the AU:SM1 Stock Forecast page.
More about Synlait Milk Ltd.
Synlait Milk Limited is a company operating in the dairy industry, primarily focused on producing and supplying milk and related dairy products. The company is based in Canterbury, New Zealand, and is listed on both the NZX and ASX stock exchanges.
Average Trading Volume: 43,347
Technical Sentiment Signal: Sell
Current Market Cap: A$369.4M
Learn more about SM1 stock on TipRanks’ Stock Analysis page.