Jefferies expects Boral to beat FY24 EBIT outlook, raises price target

Boral

11/02/2024 23:17

** Jefferies expects Boral  BLD.AX  to beat its new FY24
EBIT forecast of A$330 million ($214.83 million)- A$350 million
    ** Brokerage believes that increased project complexity will
favor the major Australian construction companies, given scale
and capacity to service that market segment
    ** Adds proposed Federal legislation can pose risks to BLD's
operating costs
    ** Raises price target to A$5.70, maintains "hold" rating
    ** 3 of 12 analysts rate the stock "buy" or higher, 4 "hold"
and 5 "sell" or lower; their median PT is A$5.50 – LSEG data
    ** Stock has risen about 9% this year, as of last close

($1 = 1.5361 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru; Editing by Lisa
Shumaker)
 ((Rajasik.Mukherjee@thomsonreuters.com))