Jefferies upgraded Reliance Worldwide to Buy from Hold with a price target of A$3.96, down from A$4.17. The Q1 trading update was mostly in line with the firm’s expectations and Jefferies cites current valuation levels and underperformance relative to James Hardie (JHX) for its upgrade of Reliance shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
