CSR – Credit Suisse rates the stock as Upgrade to Outperform from Neutral

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Credit Suisse observes the projected volume decline has disappeared and multi-residential units are now the only segment showing material weakness.

The broker is encouraged by both industry assessment and approvals data that show strength in non-residential construction, particularly government-exposed sectors.

The broker increases estimates for net profit in FY21 by 13%. Rating is upgraded to Outperform from Neutral and the target raised to $5.30 from $4.10.

Sector: Materials.

Target price is $5.30.Current Price is $4.79. Difference: $0.51 – (brackets indicate current price is over target). If CSR meets the Credit Suisse target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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