Credit Suisse has an "outperform" on Ridley Corporation. "Our...

Credit Suisse has an "outperform" on Ridley Corporation. "Our target price increases from $1.40 to $1.55 in line with positive EPS revisions." Credit Suisse said: "RIC has announced the sale of its legacy Dry Creek property. We view this as a great outcome for RIC, as not only does it realise $35 million in gross proceeds (equating to book value), but it will also no longer incur associated costs (around $2.5 million–$3.0 million). Dry Creek was by far the largest legacy property asset and its successful disposal enhances pure-play agri-exposure for RIC at a time when it is benefiting from supportive industry conditions, strong feed performance, operating efficiencies, margin expansion (favourable mix effect) and strong operating cash flow. Forecast earnings growth is strong, as is the balance sheet."