Macquarie says Orora's acquisition of Saverglass accelerates earnings growth

Orora

10/10/2023 01:18

** Macquarie says Australia's Orora's  ORA.AX  acquisition
of Saverglass accelerates ORA's earnings growth profile
    ** Brokerage has a price target of A$3.40 for the packaging
co, rates "Outperform" 
    ** "Acquisition of Saverglass moves ORA further up packaging
value chain and into the higher 'product-to-pack' segment" -
Macquarie
    ** Sees 14% and 12% EPS growth in FY25 and FY26 respectively
on solid base business growth and contribution from Saverglass
    ** ORA stock currently up 0.7% at A$2.79
    ** Two of 11 analysts rate stock "Buy", 9 "Hold"; their
median PT is A$3.30 - LSEG data
    ** Stock up 2.6% YTD as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))