UPDATE: Williams Financial Raises PT on James Hardie Industries Following Management Discussion Series
In a report published Thursday, Williams Financial analyst David N. Williams reiterated a Buy rating on James Hardie Industries (NYSE: JHX), and raised the price target from $53.00 to $59.00.
In the report, Williams noted, “James Hardie (JHX, Buy, $51.68) participated in our Management Discussion Series yesterday and our general takeaway is that while new home sales in the U.S. have begun to pick up pace with obvious top line benefits, the company is not ready to sound the all clear. JHX management believes the recovery is more likely to remain on a slow,steady growth trajectory, but does not see a boom cycle developing yet, keeping management tone and expectations somewhat more tempered vs. the industry as a whole. The market is believed to remain constrained as limited capacity, elevated unemployment and tight credit conditions persist.”
James Hardie Industries closed on Wednesday at $51.68.
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