Jefferies lifts PT for CSR on earnings growth potential

CSR

02/11/2021 22:02

** Jefferies raises PT for CSR Ltd  CSR.AX  to A$6.60 from
A$6.40, maintains "buy" rating, ahead of building products
manufacturer 1H22 earnings on Nov. 4
    ** Brokerage optimistic on extended build pipeline and
higher prices in building products segment
    ** Sees higher plasterboard and insulation prices providing
increasing leverage from 2H22
    ** Expects CSR benefiting from strong aluminium pricing by
increasing hedges out to FY26
    ** Jefferies upgrades its FY22 core NPAT estimates to A$162
mln($120.29 mln) from A$151 mln previously
    ** Brokerage forecasts 1H22 core NPAT at A$79 mln compared
to A$66 mln reported last year
    ** Seven of nine analysts rate the stock "buy" or higher,
and two "hold"; their median PT is A$6.48 – Refinitiv Eikon data
    ** Stock up 14.9% so far this year, as of last close 
    



($1 = 1.3468 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((Dhriti.Garg@thomsonreuters.com))