JHX - Citi rates the stock as Sell
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Citi observes labour constraints have already provided a bottleneck to construction and the rebuilding of Houston will be elongated.
Pricing power for labour in disaster-affected areas may pull supply from other markets which could counter the upside for material suppliers such as James Hardie at a national level.
Meanwhile, import competition is expected to intensify in the short to medium time because of the rebuilding opportunity that is presented.
Citi maintains a Sell rating and $16 target.
Target price is $16.00.Current Price is $17.64. Difference: ($1.64) - (brackets indicate current price is over target). If JHX meets the Citi target it will return approximately -10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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