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James Hardie downgraded to Neutral from Buy at UBS

UBS analyst Nathan Reilly downgraded James Hardie (JHX) to Neutral from Buy with a price target of A$36, down from A$50, after Q1 earnings fell “well short” of consensus expectations and guidance for North America was cut. Persistently high rates, tariff volatility and ongoing home affordability challenges are driving a lower demand environment and prompting homebuilders to reduce production, the analyst noted.

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