Citi says lower interest rates would benefit Brickworks' growth outlook

Brickworks

27/09/2024 24:26

** Analysts at Citi are hopeful about property business of
Australia's Brickworks  BKW.AX ; say lower interest rates would
benefit the segment's outlook
    ** Lower rates should benefit BKW, as its investment segment
derives earnings from Soul Pattinson, which majorly earns from
its equity and private investments - brokerage
    ** Outlook for building products demand might improve with
the recent U.S. rate-cut and rate cuts expected in 2025 in
Australia - Citi analysts
    ** Brokerage retains "buy" rating, cuts PT to A$36.6/shr
from A$37.50 apiece
    ** Two of eight analysts rate stock "buy" or higher, six
"hold"; their median PT is A$28.25 – LSEG data
    ** Stock is up 2% YTD, as of last close

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