Truist initiated coverage of James Hardie (JHX) with a Buy rating and $45 price target The firm expects the “secular growth story” of fiber cement siding to continue long-term with low double-digit growth that includes a “healthy component” of price in addition to volume. James Hardie’s margins are one of the top three in building products, the analyst tells investors in a research note. Truist believes the shares will multiple expansion if the company upgrades its listing from a U.S. American depository receipt, saying it provide more liquidity. It believes James Hardie’s secular growth and high margins are not totally reflected currently in the shares.
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Read More on JHX:
- James Hardie Industries Reports Mixed H1 FY25 Results
- James Hardie Industries (JHX) Q2 Earnings Cheat Sheet
- James Hardie upgraded to Overweight from Neutral at JPMorgan
- James Hardie Expands ASX Listing with New Securities
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
