Given defensive revenue drivers and global stimulus measures underway, Citi believes an opportunity is emerging and James Hardie remains a preferred exposure.
Having executed the first year of its three-year strategy amid a recovering US housing market the broker expects high double-digit growth in earnings per share.
Citi reiterates a Buy rating and $36 target.
Sector: Materials.
Target price is $36.00.Current Price is $24.64. Difference: $11.36 – (brackets indicate current price is over target). If JHX meets the Citi target it will return approximately 32% (excluding dividends, fees and charges – negative figures indicate an expected loss).
