Packaging business ORA has slowly but surely appreciated since COVID, a very comfortable journey compared to many stocks & sectors in 2022. We believe ORA is reasonable value trading on an Est P/E of 17.7x for 2022 while its 4.2% unfranked yield is a useful top-up for performance. The company is growing in North America while inflation has been navigated by timely price increases i.e. the business has pricing power. For good measure sustainability trends are aiding demand for ORA’s cans and fibre packaging solutions, while it stays ahead of the curve in this department things look solid for ORA.
MM is bullish ORA looking for an eventual test of $4.50
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