Global packaging business ORA provides fibre/can/glass packaging and logistics solutions to the beverage markets operating primarily in Australia, New Zealand and North America – Amcor’s downgrade in early May has weighed on ORA even though its performance is superior. The company delivered a stronger-than-expected earnings report in Q1 after a huge shift by consumers to “slim and sleek” cans, preferred by the younger generation for their energy drinks.
- We continue to like this business whose 13.9x Est valuation for 2023 and 5.8% yield over the next 12 months is a solid defensive play in our view
- ORA is already on our Hitlist for both the Income & Growth Portfolios.
MM likes ORA under $3.20
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