JHX - Citi rates the stock as Buy
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Citi analysts spotted another margin beat on "uninspiring volumes and rising inventories". It has reinforced their suspicion this company is about to experience a consensus upgrade cycle, which should bode well for the share price.
Citi retains the Buy rating, while lifting the price target to $27 from $23. Probably the most important statement made in today's report is the following: "Confidence has increased materially on JHX’ ability to deliver double-digit underlying EPS growth for successive years".
EPS estimates have increased but the analysts make the point that confidence has increased more.
Target price is $27.00.Current Price is $23.65. Difference: $3.35 - (brackets indicate current price is over target). If JHX meets the Citi target it will return approximately 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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