Reliance Worldwide assumed with a Buy at Jefferies

Jefferies assumed coverage of Reliance Worldwide (RLLWF) with a Buy rating and A$6.50 price target Exposure to repair work has insulated Reliance’s North America volumes against weaker remove and replace, relative to U.S. listed comps, and Jefferies is comfortable with Reliance’s volume guidance of plus or minus low single digit volume growth in fiscal 2025, the analyst tells investors in a research note. The firm added that valuation is already discounting volume risks.