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UPDATE: Bank of America Upgrades James Hardie Industries on US Housing Sector Recovery

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In a report published Thursday, Bank of America analyst Ben Chan upgraded the rating on James Hardie Industries plc (NYSE: JHX) from Neutral to Buy, and raised the price target from $52.00 to $59.78.

In the report, Bank of America noted, “James Hardies derives approx 80pct of earnings directly from the now recovering US housing sector which offers excellent LT earnings growth prospects when combined with expected market share gains. The valuation also benefits from a falling A$ and the balance sheet can facilitate continued strong capital management.”

James Hardie Industries plc closed on Wednesday at $44.75.

Latest Ratings for JHX

DateFirmActionFromTo
Nov 2019UpgradesUnderperformBuy
Nov 2019Initiates Coverage OnUnderperform
May 2019DowngradesBuyOutperform

View More Analyst Ratings for JHX
View the Latest Analyst Ratings

Posted-In: Bank of America Ben ChanAnalyst Color Upgrades Analyst Ratings

 

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