Boral results main driver for Aussie contractor Seven Group's upgrade - Brokerage

Boral

17/08/2023 22:51

(Updates with comments from Morningstar)
    ** Analysts at Jefferies say building materials maker
Boral's  BLD.AX  positive results earlier in the month remain
significant driver for Seven Group Holdings'  SVW.AX  upgrades
    ** Jefferies raises PT on the Australian contractor by 13%
to A$30.08/share
    ** SVW posts EBIT growth of 20% for FY23, higher than its
and market's estimates -Jefferies
    ** Analysts at another brokerage Morningstar raises fair
value estimate on co by 6% to A$27.50/share
        ** Morningstar highlights SVW's exposure to ASX-listed
companies including Boral as the main driver for upgrade
  
        ** Morningstar adds co has to focus more on debt
reduction; though debts are now at "comfortable" levels
  
    ** Macroeconomic set-up continues to be favourable for SVW,
supporting its forecast of high single-digit EBIT growth in FY24
- Jefferies
    ** Stock has risen 28.7% this year, as of last close

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