Highlights

  • Consensus rating of Buy from 9 analysts: 5 Buy or equivalent, 4 Hold, 0 Sell or equivalent.
  • Mean price target of A$7.02 against a share price of A$6.77 on 8 October 2026, an implied upside of 3.7%.
  • Analyst targets range from A$6.20 to A$7.50.
  • GrainCorp (ASX:GNC) provided an update on its Business Transformation Program and reconfirmed its FY26 Earnings guidance on 10 September 2026.

GrainCorp (ASX:GNC) carries a consensus analyst rating of Buy. Of the 9 analyst recommendations recorded, 5 are Buy or equivalent, 4 are Hold and 0 are Sell or equivalent. The mean price target is A$7.02, with targets ranging from A$6.20 to A$7.50, against a current share price of A$6.77 (8 October 2026). GrainCorp Limited is an Australian agribusiness that handles and processes grain and operates Agribusiness and Nutrition and Energy segments.

Company name

GrainCorp

Ticker

(ASX:GNC)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$6.77

Price date

8 October 2026

Number of analysts

9

Rating consensus

Buy

Consensus price target (mean)

A$7.02

Highest target

A$7.50

Lowest target

A$6.20

Implied upside/downside to mean target

Implied upside of 3.7%

Latest developments

GrainCorp (ASX:GNC) provided an update on its Business Transformation Program and reconfirmed its FY26 earnings guidance on 10 September 2026. The program is on track to deliver run-rate benefits of $12 million by the end of FY26, above the top end of its previously announced commitment, which builds towards a targeted uplift of $20 million to $30 million in through-the-cycle EBITDA by the end of FY28.

A key focus is a systems transformation to address an end-of-life version of SAP. Release 1, which relates to the Nutrition and Energy segment, is well progressed, but late-stage testing led to a decision to extend the deployment timeline. Deployment is now expected after harvest in the second quarter of calendar 2027, previously the second half of 2026, which the company said will reduce implementation risk. Spend in the second half of FY26 is unchanged at about $25 million, while Release 1 spend in FY27 is now expected to be $30 million to $35 million, an increase of $30 million. GrainCorp has also evaluated Options for Release 2, which relates to Agribusiness, and incurred one-off restructuring costs of $5 million in FY26.

FY26 Underlying EBITDA is expected to be around the midpoint of the previously announced range of $200 million to $240 million, and FY26 Underlying NPAT is expected in the previously announced range of $20 million to $50 million. The guidance was first announced on 2 February 2026 and remains subject to variables including the timing and Volume of grain sales.

Risks and what to watch

The SAP deployment for Nutrition and Energy has been delayed to the second quarter of calendar 2027, and FY27 spend on Release 1 is now expected to be $30 million to $35 million, higher than previously disclosed. FY26 guidance is subject to a range of variables, including the timing and volume of grain sales. The $20 million to $30 million EBITDA uplift target runs to the end of FY28.

Next milestones

Items to watch include FY26 results against guidance of Underlying EBITDA around the midpoint of $200 million to $240 million, Release 1 deployment in the second quarter of calendar 2027, decisions on Release 2, and progress toward the $20 million to $30 million EBITDA target.