Research Disclosures & Disclaimers

This website contains disclosures and disclaimers related to
published UBS Global Research products, including those related to
regulation, potential conflicts of interest as well as those provided
by third-party data providers describing limitations on use of their
products.

Fonterra Shareholders' Fund (FSF.NZ)*

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (NZ$)	Price Target (NZ$)	Rating
2022-02-28	3.44	3.90	Neutral
2022-03-18	3.50	3.60	Neutral
2022-08-16	3.12	-	No Rating
2022-09-09	3.13	3.25	Neutral
2022-09-23	3.40	3.30	Neutral
2023-03-17	3.38	3.75	Buy
2023-09-22	3.55	3.85	Buy
2024-03-22	3.67	4.15	Buy
2024-09-13	4.72	5.10	Buy
2024-09-26	4.95	5.20	Buy
2025-02-21	5.35	5.95	Buy
2025-03-20	5.72	6.50	Buy

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.