Jefferies ups PT on Australia's CSR on buyout bid

CSR

15/05/2024 04:58

** Analysts at Jefferies increases price target for building
products maker CSR  CSR.AX  on expectations that co's scheme of
arrangement with Saint Gobain will pass in June 2024
    ** Brokerage lifts PT to A$9.0 from A$5.60, in line with the
offer from Saint Gobain; retains 'hold' rating
    ** Co posts FY net profit after tax of A$240 mln ($159.31
mln), up 7% from last year
    ** CSR's result indicative of strong pipeline of work in
Australia supporting building products volumes up to March 2024
- Jefferies
    ** Shares of CSR Ltd  CSR.AX  largely unchanged at A$8.89
    ** One of 11 analysts rate the stock "buy", eight "hold" and
two "sell"; their median PT is A$6.94 - LSEG Data
    ** CSR up 34.7% YTD as of last close 
    

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))