Truist analyst Keith Hughes raised the firm’s price target on James Hardie (JHX) to $28 from $25 and keeps a Buy rating on the shares after its positive Q2 pre-announcement. The firm expects Street estimates to move up after the release but still believes that results will be pressured by a weak residential construction market and poor mix for James Hardie, the analyst tells investors in a research note. It will take several more quarters of solid results to rebuild confidence in this story, Truist added.
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