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Boral Limited.

( ASX:BLD ) - Materials

News

Wet Weather Dampens Boral Outlook

A warning yesterday from building products group Boral for weaker than expected earnings for the first half of 2017-19 sent the shares down 6% to 12 month low of $5.30 at one stage before they retraced to close at $5.52, off 1.9% thanks to the big afternoon ASX rally.

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Analyst Views

BLD – UBS rates the stock as Neutral

Boral's result has provided the broker with more confidence management's FY19 guidance can be achieved. A fly ash price increase of 13% and counting underpins that confidence although guidance for a flat FY in Australia still looks risky in the context of the housing slowdown, in the broker's view.

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BLD – UBS rates the stock as Neutral

Following a series of downgrades the past twelve months, the broker's confidence in Boral's guidance has waned, leading to forecast cuts. Boral derives 50% of its earnings from housing and both US and Australian housing are in decline, Australia notably, and non-residential building carries downside risk if sentiment continues to deteriorate.

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