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RWC - Morgans rates the stock as Hold
BY BROKER NEWS - 10/10/2017 | VIEW MORE BROKER UPDATES

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RWC - RELIANCE WORLDWIDE CORPORATION LIMITED


Morgans investigates the competitive threat posed by Apollo Tectite, which has replaced the company's SharkBite PTC fittings in Home Depot stores in the north west of the US.

The broker found no plumbing representatives consulted spoke ill of Apollo Tectite. While Reliance dominates the market in brass PTC fittings Morgans believes the ongoing relationship with Home Depot, its largest customer, is a key risk.

Hold rating and $3.60 target retained.

Sector: Capital Goods.

Target price is $3.60.Current Price is $3.72. Difference: ($0.12) - (brackets indicate current price is over target). If RWC meets the Morgans target it will return approximately -3% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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