Citi raises PT on Australian bottles and cans maker Orora

Orora

21/10/2024 22:38

** Analysts at Citi raise PT on Australia's Orora  ORA.AX 
to A$2.8 from A$2.55; keep stock rating at "neutral"
    ** Brokerage expects company's earnings to be the main
driver behind share price movement in the future
    ** Citi sees higher growth in the bottles maker's can
business and lower interest costs for current debts
    ** Expects company to announce an A$250 mln ($166.38 mln
)per annum share buyback plan and record lower net interest
    ** Stock is flat this year, as of last close
($1 = 1.5026 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))