Orica In a comment from Macquarie, it upgraded Orica to outperform from neutral, with a price target of $29.70. Macquarie said the upgrade reflects a positive outlook post demerger. Macquarie sees near-term catalysts in the Dulux demerger on July 12, the Orica investor day on July 15 and its North American analyst tour, commencing the week of July 19. The broker believes the resolution of the mining tax is also a positive as the next wave of resources projects should now move forward with greater certainty, particularly given the low-cost position of existing coal and iron ore production, with Orica's Australasian Mining Services accounting for 36% of earnings.
ORI Price at posting:
$23.98 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)