Goldman Sachs analyst Niraj Shah initiated coverage of James Hardie with a Buy rating and A$40.50 price target. The company’s earnings risks remain skewed to the downside relative to consensus estimates, but the current share price is "capitalizing trough earnings," the analyst tells investors in a research note. The firm believes James Hardie’s longer-term opportunity is underpinned by its mix premiumization strategy.
Published first on TheFly
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