CLSA analyst Daniel Kang downgraded James Hardie to Underperform from Outperform with a price target of A$32, down from A$34. The company reported "disappointing" Q3 results and lowered its fiscal 2023 guidance by a further 10%, the analyst tells investors in a research note. The firm says that with market conditions deteriorating and new industry capacity coming online, James Hardie’s "headwinds have strengthened."
Published first on TheFly
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