Citi, Jefferies cut PT on Dyno Nobel after 'messy' full-year results

Citigroup

Mon 19:21

** Citi described Australia's Dyno Nobel DNL.AX FY26 results as "overall messy" due to turnaround and unplanned downtime disruptions
** The brokerage trimmed its FY27-28 net profit after tax forecasts by 4-8%, citing higher interest costs from increased capex and leverage
** Citi reduced TP to A$4.15 per share but maintains "buy" rating "with cash flow improving and an attractive underlying valuation of the Explosives business"
** Jefferies expects little growth in FY27, cuts TP to A$3.90 per share from A$4.47 per share
** Brokerage however retains "buy" rating citing long-term growth in business segments as bottlenecks ease
** Six of thirteen analysts rate the stock "buy" or higher, and seven rate "hold"; their median PT is A$3.80, according to data compiled by LSEG
** Stock up 5.92% YTD, as of last close

 (Reporting by Shravya Marakini in Bengaluru)
 ((shravya.marakini@thomsonreuters.com))