BLD - Citi rates the stock as Sell
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Citi is considerably more confident regarding the company's US business than it was at the time of the FY17 result.
US management has done a competent job in combining with Headwaters personnel and articulating the opportunity for the new company in the US building products and construction materials market, the broker observes.
Execution will be the test and the broker looks for indicators of improving non-residential construction activity in the US to support expectations for fly ash.
Sell rating and $6.20 target retained.
Target price is $6.20.Current Price is $6.81. Difference: ($0.61) - (brackets indicate current price is over target). If BLD meets the Citi target it will return approximately -10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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