James Hardie upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded James Hardie (JHX) to Overweight from Neutral with a price target of A$55, up from A$52, ahead of the Q2 report on November 13. While the firm sees risks to the top end of the company’s fiscal 2025 guidance, it believes consensus earnings remain “fairly conservative,” sitting at the lower end of the range. Peer commentary in recent results has skewed marginally positive, with modest improvements in housing activity anticipated in 2025, the analyst tells investors in a research note.