Australia's Dyno Nobel almost flat after rally; Jefferies, UBS raise PTs

Dyno Nobel

12/05/2026 02:39

Updates with UBS comments

** Australia's Dyno Nobel DNL.AX shares down 0.1% after a 6.6% rise on Monday

** Jefferies analysts raise price target to A$4.11 from A$3.90, UBS lifts PT to A$3.75 from A$3.55

** On Monday, explosives maker posted a more than twofold rise in half-year net profit attributable to A$19.9 million ($14.43 million)

** Jefferies sees favourable market conditions supported by tight ammonium nitrate supply underpinning earnings for DNL over next 12 to 18 months

** UBS says over medium term, it expects DNL to benefit from elevated ammonium nitrate prices and continued demand from mining customers due to supportive global commodity prices

** Jefferies expects DNL EPS to rise by 2%-4% in FY27-28, signalling a stronger outlook in Asia Pacific and North America segments, partly offset by higher corporate costs and net interest

** DNL shares up 10.3% YTD

($1 = 1.3789 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))