2308 GMT - ASX-listed chemicals companies Orica and Incitec Pivot are likely to benefit from a weaker than previously anticipated Australian dollar over the next few years, Macquarie analysts say in a note. Both companies make a lot of their money abroad and have material exposure to the greenback, the analysts say. Macquarie, which has pared its Australian dollar forecasts through FY27, lifts its price target a tad on both stocks. On Orica, the bank raises its target by 1% to A$20.78/share and reiterates an outperform rating. Orica ended Tuesday at A$18.39/share. On Incitec Pivot, Macquarie raises its target by 3% to A$3.15/share and reiterates a neutral call. Incitec Pivot ended at A$3.07/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
December 10, 2024 18:08 ET (23:08 GMT)
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