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BUZZ-Brokerages positive on Australia's Dyno Nobel as it sells fertiliser distribution business

Reuters
May 13, 2025
BUZZ-Brokerages positive on Australia's Dyno Nobel as it sells fertiliser distribution business 

** Shares of Dyno Nobel DNL.AX little changed; up 0.2% at A$2.625 on the day

** Brokerages Citi and Morgan Stanley are optimistic on the fertiliser producer's divestment of its fertiliser distribution business to Ridley Corp RIC.AX

** While both brokerages are encouraged by the divestment's progress, Morgan Stanley says its proceeds appear "underwhelming"

** Morgan Stanley also says market must wait for a full separation of co's fertiliser business

** Citi remains cautious around pace of growth trajectory for co's explosives business across regions

** Citi sees 2H25 EBITs for explosives segment's Americas and APAC regions to contribute 60% and 65%, respectively, in line with co's guidance

** DNL down 10.6% YTD, including current session's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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