Morgans makes no changes to FY22 Australasia and North America earnings (EBIT) forecasts, in the wake of Orora's AGM, (other than an adjustment to the first and second half split for Australasia). The Hold rating is unchanged and the target price rises to $3.44 from $3.40.

Management announced an additional $150m on-market buyback, and reiterated guidance for higher group underlying earnings in FY22.

Sector: Materials.

Target price is $3.44.Current Price is $3.23. Difference: $0.21 - (brackets indicate current price is over target). If ORA meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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