This report is an updated version of the report published on 14 January 2026 at 12:49 PM AEDT.

Elders Limited (ASX: ELD)

Elders Limited (ASX: ELD) is a leading Australian agribusiness providing farm supplies, livestock and wool trading, real estate, and financial services. Operating through its Branch Network, Wholesale Products, and Feed & Processing Services segments, the company offers seeds, fertilizers, animal health products, and rural merchandise, along with livestock auctions, property management, and online trading via AuctionsPlus.   

Recommendation Rationale – SELL at AUD 7.520

• Trading Near Resistance Level: ELD’s share price is approaching its R1 level recommended on 03 November 2025. The 14-day Relative Strength Index (RSI) is now at approximately 68.33, placing the stock close to its overbought territory. This suggests the recent price rally may be overextended, increasing the likelihood of near-term consolidation or a technical pullback.
• Overvalued Multiples: On a Forward 12-month basis – key trading multiples (EV/EBITDA, and Price/Cash Flow) are higher than the median of Consumer Non-cyclicals sector.
• Rising Costs:The company recorded a 6% YoY rise in FY25 costs, driven by acquisition-related and transformation project expenses.
• Marker Risks: Elders’ performance depends on seasonal conditions; prolonged droughts or extreme weather can lower crop protection sales, reduce livestock supply, and disrupt rural demand, leading to fluctuations in revenue and regional profitability.

ELD Daily Chart

Daily Technical Chart, Data Source: REFINITIV

Valuation Methodology: EV/Sales Approach (FY Sep'26E) (Illustrative) 

The stock might trade at a slight premium to its peers, considering the increased revenue, growth in underlying EBIT, higher statutory profit after tax, strategic real estate acquisition and cost management program, etc. For valuation purposes, peers include Bega Cheese Ltd (ASX: BGA), Woolworths Group Ltd (ASX: WOW), Graincorp Ltd (ASX: GNC), and others.

Considering that the stock is approaching its R1 level, macroeconomic uncertainty, rally in share price movement, current trading level, and risks associated, the stock can face consolidation at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current price of AUD 7.52, as of 14 January 2026 at 12:10 PM AEDT.

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 14 January 2026. 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.

Note 5: Dividend Yield may vary as per the stock price movement. 

Technical Indicators Defined: - 

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.