Bell Potter initiates coverage on Australia's Boral with 'hold'

Boral

15/01/2024 23:09

** Analysts at Bell Potter begin coverage on Australia's
Boral  BLD.AX  with "hold" rating and PT of A$5.15 
    ** Says the building materials maker is demonstrating a
rapid recovery in EBIT margins
    ** Brokerage sees FY24 EBIT of A$324 million ($215.72
million) which is in the upper end of co's A$300 mln- A$330 mln
guidance range 
    ** Sees scope for an updated capital management strategy
this financial year
    ** Three of 11 analysts rate the stock "buy" or higher, four
"hold" and four "sell" or lower; their median PT is A$5 – LSEG
data
    ** Stock has fallen 0.7% this year, as of last close 


($1 = 1.5020 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Lisa
Shumaker)
 ((Rishav.Chatterjee@thomsonreuters.com;))