Citi says James Hardie's underlying momentum improving despite volatile sales

James Hardie Industries

09/08/2026 20:39

** Analysts at Citi say James Hardie JHA1.F, JHX.AX is seeing some of the most volatile sales conditions in recent years, making underlying demand trends difficult to assess
** Brokerage says, however, that building products maker's fundamentals are improving and revenue synergy targets remain on track
** Dublin-headquartered firm raised its annual earnings forecast on Friday, helped by AZEK acquisition synergies, and posted 54% jump in Q1 adjusted net income
** Citi raises its 2027 and 2028 EBITDA forecasts by 2% and by 5%, respectively, citing stronger-than-expected volume growth and favourable price and mix outcomes across group's businesses
** Brokerage reiterates "buy" rating
** Seven of 14 analysts rate stock "buy" or higher, five "hold" and two "sell" or lower; median PT is A$82.95 - LSEG data shows
** Stock has risen 39.8% YTD, as of last close

 (Reporting by Roshan Thomas in Bengaluru; Editing by Edmund Klamann)
 ((Roshan.Thomas@thomsonreuters.com;))