Australia’s Orora (ASX:ORA) delivered better than anticipated results for FY23, according to analysts at Jefferies and Citi.

Despite facing market challenges, the company exceeded expectations.

Citi prognosticates promising margins for Orora in 2H24/FY25.

Even though demand and price may remain weak, Jefferies analysts anticipate a return to stability in CY24, driven by recovery in demand and permanent capacity closures within the company.

Jefferies increases its price target for Orora to A$3.85, while Citi raises its target to A$4.10.

Among the five analysts reviewing its stock, two rate it as a ‘buy’ and three as a ‘hold’.

The median price target is A$8.7, as per Refinitiv.

Orora’s stock has risen 10.2% this year until the most recent closure.

Orora is an Australian packaging company involved in the production and distribution of packaging products and visual communication materials.