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 plcJHX
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.
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Posted In: Analyst ColorUpgradesAnalyst RatingsBank of AmericaBen Chan
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