BLD - Morgan Stanley rates as Overweight
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Morgan Stanley finds further evidence the infrastructure boom is emerging, with activity levels in the September quarter 30% ahead of the prior corresponding quarter.
The broker finds the backdrop supportive for construction materials companies and reiterates an Overweight rating and preference for Boral, a key beneficiary. Target is $8.50 target. Industry view is Cautious.
Target price is $8.50.Current Price is $7.90. Difference: $0.60 - (brackets indicate current price is over target). If BLD meets the Morgan Stanley target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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