Orica Supply Deal Slightly Positive; Land Sale Delay Slightly Negative
Dow Jones
Sep 28
0259 GMT - The finalization of Orica's North American ammonium nitrate supply arrangements for FY 2027 is "a slight positive," according to RBC Capital Markets. Yet it is only for one year and there will be a negligible impact on margins, the broker says. On the other hand, the delay in the sale of the Deer Park land is "a slight negative," says RBC. It expects the land will eventually be sold, and Orica says the change in timing doesn't affect its underlying business operations. RBC keeps an outperform rating. Its price target on Orica is A$27.00/share. The stock is up 2.3% at A$23.37/share.
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