Jefferies cut PT for Australia's Orora after weak FY forecast

Orora

02/04/2024 20:10

** Analysts at Jefferies cut price target for packaging
company Orora  ORA.AX  to A$2.40 from A$2.75
    ** Jefferies sees 20% year-over-year decrease in 2H24 EBITDA
from Saverglass based on co's FY24 forecast
    ** Brokerage says co's FY24 EBIT guidance for North America
ops implies margins in 2H24 will be down to 5.1% from 5.9%
    ** Jefferies expects co's EPS to fall by 13%, 18% and 15% in
FY24, FY25 and FY26, respectively
    ** Co posted lower FY earnings forecast on Tuesday in its
trading update
    ** Eight of 14 analysts rate the stock "buy" or higher and
six "hold"; their median PT is A$2.90 – LSEG data
    ** Stock had fallen 10.8% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))