2305 GMT - Dyno Nobel has transformed into a pure explosives business "with a much clearer road ahead," says Citi analyst William Park. Citi upgrades the stock to buy from neutral. It raises its target to A$4.00 from A$3.50. Dyno Nobel's growth trajectory is underpinned by its "innovative suite of offerings, transformation program and the industry's structural tailwinds," Park says. Key growth regions are showing early encouraging signs and margins are expected to continue to expand, he says. The company's focus on blasting follows material inroads carving off fertilizers businesses. Dyno Nobel Monday jumped 7.8% to A$3.46, its highest level since January 2023.(rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

November 10, 2025 18:05 ET (23:05 GMT)

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