ORA is a global packaging company providing fibre/can/glass packaging and logistics solutions to the retail, industrial, food and beverage markets. The company operates primarily in Australia, New Zealand and North America – arguably not an exciting place to operate following Amcor’s (AMC) downgrade yesterday which saw its stock tumble -9.5%.
The company delivered a stronger-than-expected earnings report in February last month after a huge shift by consumers to “slim and sleek” cans, much preferred by the millennials and Gen Z market who as we know like a canned drink! The company appears to be delivering earnings while being ahead of the curve towards R&D, which in our opinion still makes it an excellent defensive play through 2023/4.
- No change, we continue to like this business whose 14.6x Est valuation for 2023 and 5.5% yield over the next 12 months is a solid value in our opinion.
MM likes ORA into any dips towards $3.20.
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