Citi flags potential tariff impact on Australia's Orora after Trump win

Orora

07/11/2024 23:35

** Brokerage Citi says investors will keenly await for an
update from Australian packaging solutions provider Orora
 ORA.AX  on possible implications of potentially higher tariffs
on Chinese imports after Donald Trump's U.S. presidential win 
    ** Brokerage maintains "neutral" rating and price target of
A$2.38 
    ** Citi expects ORA's U.S. consumption to reduce by 6% to
12%, adds this may represent a 2%-5% headwind to sales at group
level
    ** Trump proposes baseline tariffs of 10% to 20% on all
imported goods entering the U.S.
    ** ORA down 8.5% YTD as of last close, outperforming a 10.9%
decline on the ASX Materials index  .AXMJ 

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com))