2323 GMT - A Brickworks bull at Citi thinks that there is probably limited scope for further earnings downgrades following the Australian company's second U.S.-related impairment in six months. Analyst Suraj Nebhani sticks with his "buy" rating on the building-materials provider, telling clients in a note that Brickworks's Australian real-estate portfolio and investments are bigger value drivers for the stock than its building-products divisions. He reckons that the 6.9% share-price fall that followed the impairment announcement was an over-reaction. Citi cuts its target price 11%, to A$32.50. Shares are down 2.7%, at A$23.20. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 19:23 ET (23:23 GMT)
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