Orora's stock to see support on earnings momentum, capital returns, says Jefferies

Orora

16/10/2024 20:08

** Analysts at Jefferies expect Australia's Orora's  ORA.AX 
stock price to be supported on earnings momentum, future capital
returns and risk skewed to the upside amid active private equity
interest
    ** Says the bottles maker's Australasia beverages business
is seeing continued growth in the cans operations driven largely
by new capacity that will come on line in the H2 FY25
    ** Brokerage says the low point of luxury spirits cycle has
largely passed 
    ** Adds volume improvement will emerge in the back part of
2HFY25 as easier competition dynamics are cycled and inventories
stabilise in the U.S. 
    ** Brokerage keeps A$3 PT on co and maintains "buy" rating
    ** Stock has fallen 3.1% YTD, as of last close 

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