Jefferies, Citi up PT on Australia's Dyno Nobel

Dyno Nobel

01/10/2025 19:36

** Analysts at Jefferies and Citi raise price target on Australian mining services provider Dyno Nobel DNL.AX

** Co on Wednesday said it expects earnings before interest and taxes (EBIT) between A$695 million ($459.33 million) and A$715 million in FY25, higher than FY24 EBIT, excluding individually material items of A$580 million

** Brokerage Citi raises price target to A$3.50 per share; sees co's explosives segment to take centre stage as it is now core growth driver for co

** Citi expects several long-term growth enablers for explosives business including rising demand for technology-led precision blasting, others

** Jefferies ups price target to A$3.38 from A$3.15

** However, brokerage trims EPS forecasts for FY25, FY26 and FY27 by 8%, 7% and 25% respectively, citing lower production and higher costs

** Four of nine analysts rate the stock "buy" or higher, five "hold"; their median PT is A$3.05, according to data compiled by LSEG

** Stock up 5.8% YTD, as of last close

($1 = 1.5131 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com;))