James Hardie's ASX-listed shares rise as brokerages lift PTs
JHX•Shares rise after brokerages lift targets
Australia-listed shares of James Hardie Industries JHX.AX rise as much as 1.7% to A$37.6 in early trade.
Citi raises its target price to A$42.6 from A$36.5 and retains a buy call.
Higher EBITDA estimates follow updated guidance
Citi raises its FY27 EBITDA estimate for the construction materials maker by 3% to $1.52 billion, above the company's forecast range of $1.45 billion to $1.50 billion.
James Hardie said on Thursday it sees Q1 2027 preliminary consolidated adjusted EBITDA between $399 million and $407 million versus an earlier projection of $354 million to $375 million.
Citi says the forecast range is around 9% ahead of Visible Alpha's average consensus estimate.
Morningstar also raises its price target for James Hardie by 5% to A$45, and raises its FY27 adjusted EBITDA forecast by 13% to $1.7 billion on better-than-expected market share gains despite a weak quarter for U.S. residential housing.
James Hardie is up 20% year to date, including the day's moves.
