Australia's Dyno Nobel almost flat after rally; Jefferies, UBS raise PTs

Australia's Dyno Nobel DNL.AX shares down 0.1% after a 6.6% rise on Monday

Jefferies analysts raise price target to A$4.11 from A$3.90, UBS lifts PT to A$3.75 from A$3.55

On Monday, explosives maker posted a more than twofold rise in half-year net profit attributable to A$19.9 million ($14.43 million)

Jefferies sees favourable market conditions supported by tight ammonium nitrate supply underpinning earnings for DNL over next 12 to 18 months

UBS says over medium term, it expects DNL to benefit from elevated ammonium nitrate prices and continued demand from mining customers due to supportive global commodity prices

Jefferies expects DNL EPS to rise by 2%-4% in FY27-28, signalling a stronger outlook in Asia Pacific and North America segments, partly offset by higher corporate costs and net interest

DNL shares up 10.3% YTD

($1 = 1.3789 Australian dollars)