Financial analysts at Barrenjoey have elevated their price estimate for Australian company Bega Cheese (ASX:BGA) from A$3.50 to A$3.60.

They emphasize that the company’s second half earnings showed a strong operational performance, despite facing challenging conditions in the market.

The brokerage firm has chosen to maintain their ‘neutral’ rating for the stock.

Barrenjoey has expressed enduring confidence in the future of Bega Cheese’s branded products.

Despite this, Bega Cheese’s stock has seen a decline of 16.8% this year according to the last recorded closure.

Bega Cheese is a leading Australian dairy company.