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Orica Limited (OCLDF) Receives a Buy from Credit Suisse

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The company’s shares closed last Tuesday at $9.63.

According to TipRanks.com, Saligari is a 1-star analyst with an average return of -3.0% and a 55.3% success rate. Saligari covers the Consumer Goods sector, focusing on stocks such as Harvey Norman Holdings Ltd, Graincorp Limited Class A, and Wesfarmers Limited.

Currently, the analyst consensus on Orica Limited is a Moderate Buy with an average price target of $11.86, which is an 9.0% upside from current levels. In a report issued on May 4, Morgan Stanley also maintained a Buy rating on the stock with a price target.

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Based on Orica Limited’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0.

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Orica Ltd. engages in the manufacture and distribution of commercial explosives and blasting systems. It operates through the following segments: Australia, Pacific, and Asia; North America; Latin America; Europe, Middle East, and Africa; Minova; Auxiliaries; and Global Support. The Australia, Pacific, and Asia; North America; Latin America; and Europe, Middle East, and Africa segment involves in the supply of commercial explosives and blasting systems including technical services and solutions to the mining and infrastructure markets, and supply of mining chemicals including sodium cyanide for gold extraction. The Minova segment provides chemical and mechanical earth control products, adhesives, and ground support solutions for the underground mining, construction, tunneling, and civil engineering industries. The Auxiliaries segment consists of all adjacency businesses. The Global Support segment relates to corporate and support costs which cannot otherwise be allocated to other segments on a reasonable basis and operation of the Botany Groundwater Treatment Plant and non-operating assets. Its products include BlastIQ Plattform and mining chemicals such as sodium cyanide and emulsifiers. The company was founded in 1874 and is headquartered in Melbourne, Australia.

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