Jefferies lifts Orica rating, PT on strong earnings outlook
- Jefferies upgrades rating on Australian explosives maker Orica Ltd (ORI) to "buy" from "hold", lifts price target to A$14 from A$13.5
- Co on Wednesday said its business performance has continued to improve in second-half, driven by higher ammonium nitrate volumes
- Brokerage upgrades ORI's adjusted net profit guidance for FY21 and FY22 to A$215 mln ($156.05 mln) and A$260 mln, respectively, from A$205 mln and A$250 mln
- Momentum for FY22 starting to return in key areas and, there are signs that east coast ammonium nitrate market has stabilised in recent months which will be an important boost to ORI's earnings sentiment – Jefferies
- Citi also expects a continued improvement in business performance over the next three years for ORI with NPAT improving from A$229 mln in FY21 to A$357 mln in FY23
- Four of the nine analysts who cover the stock rate it "buy" or higher, four rate hold and one rate "sell"; median PT A$13.8
Jefferies lifts Orica rating, PT on strong earnings...
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Last
$17.60 |
Change
-0.100(0.56%) |
Mkt cap ! $8.571B | |||
| Open | High | Low | Value | Volume |
| $17.51 | $17.60 | $17.35 | $16.93M | 964.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2533 | $17.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.60 | 904 | 1 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| ORI (ASX) Chart |