Australia's Orica gains as Morningstar hikes fair value estimate

ORICA

10/09/2024 04:21

** Shares of Australia's Orica  ORI.AX  rise as much as 2.1%
to A$18.140, their highest levels since Aug 26
    ** Analysts at Morningstar increase fair value estimate for
the mining solutions provider by 3% to A$17.50 per share
    ** Brokerage forecasts 5-year EBITDA compound annual growth
rate of 11% to A$1.6 bln ($1.06 bln) by FY28
    ** Expects uptake of technology-based productivity solutions
to lift EBITDA margin from 5-year historical average nearer 15%
- Morningstar
    ** Co to post FY24 earnings in November
    ** Stock has risen 13.1% this year, as of 0305 GMT

    ($1 = 1.5031 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))