Jarden positive on early settlement of sale from Australia's CSR; ups PT

CSR

07/02/2024 04:13

** Analysts at Jarden raise their price target on CSR
 CSR.AX  to A$6.60 from A$6
    ** Co on Tuesday announced settlement of Stages 3A and 3B of
the sale of its brick plant in New South Wales for A$167 mln
($109.1 mln)
    ** However, shares of the building products maker are down
4.5% at A$6.54 as at 0408 GMT, though recovering from a 6.9%
decline earlier in the session
    ** Brokerage says settlement of Stage 3B a few months
earlier than expected shows CSR can deliver complex works within
planned time frames
    ** CSR stock on track for worst day since mid-May 2022
    ** About 1.8 mln shares change hands, compared with the
30-day average volume of around 1.3 mln
    ** Five analysts rate the stock "buy", nine "hold" and 1
"sell"; their median PT is A$6.28– LSEG data

($1 = 1.5305 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))