2310 GMT [Dow Jones]--Orica, the world's largest maker of industrial explosives, has the balance sheet to support more share buybacks, contends Jefferies. It expects leverage of 1.45x at 1H to move toward the bottom end of Orica's 1.25-2x target range through 2H. "We forecast leverage will moderate further in coming periods, which provides Orica with ample flexibility to top up the existing A$400 million buyback with further capital management initiatives, further underpinning the underlying EPS growth profile," analyst Ramoun Lazar says. Jefferies has a buy call on Orica. (david.winning@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 19:12 ET (23:12 GMT)
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