Jefferies raises PT on Dyno Nobel after half-year earnings jump

Dyno Nobel

11/05/2026 20:17

** Jefferies' analysts raise price target on Australia's Dyno Nobel DNL.AX to A$4.11 from A$3.90, reiterates "buy" rating

** On Monday, the explosives maker posted a more than twofold rise in its 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 a backdrop of earnings for DNL over the next 12 to 18 months

** 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

** Shares up 10.3% YTD

($1 = 1.3789 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))