Orica shares a ‘buy’ as Bell Potter begins coverage
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The news: Bell Potter analysts recommend that shares in explosives manufacturer Orica are a ‘buy’ as they begin watching the stock.
The numbers: The analysts set a 12-month target price of $23. Orica’s share price last closed at $21.20, which is up 27.8% in the year to date.
The context: Bell Potter analyst Joseph House expects underlying earnings before interest and tax to grow across all of Orica’s business segments in the short to medium term.
Orica’s September 2025 business update continued “positive momentum”, with the company guiding higher earnings across the blasting solutions, digital solutions and specialty mining chemicals segments compared to the previous corresponding period.
He also flagged that the business is “well positioned to deliver rapid de-leveraging over FY26-27 (in the absence of M&A)” and highlighted room for extending the share buyback program and dividends.
The source: Bell Potter research
