Australia's Orica rises; Morgan Stanley lifts PT on strong results, positive outlook

ORICA

17/11/2025 03:55

** Shares of Australia's Orica ORI.AX rise as much as 1.4% to A$24.185, their highest since mid-November 2019

** Analysts at Morgan Stanley raise price target on Orica to A$26 from A$23 and maintain "overweight" rating

** Morgan Stanley says Orica's premium product momentum, growth in digital and specialty chems segments and solid mining demand offset coal headwinds and supply risk

** The mining and infrastructure solutions provider reported its strongest annual earnings in 13 years on Thursday, driven by solid performance across segments

** Brokerage says, with co's leverage at 1.4x, it expects further scope for buybacks and potentially small, strategic acquisitions

** Morgan Stanley increases EBIT forecasts for FY26/27 by 4% on average, primarily due to increased earnings in digital and specialty chems segment

** YTD, Orica stock up 44.9%

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))