0039 GMT - SGH shares have been materially derated and now trade at an "attractive" 13.0X prospective EV/Ebit, in line with a five-year average, Macquarie says. It upgrades the stock to outperform from neutral. "While the demand context is likely to weaken, we think SGH's businesses remain well-placed to manage this," says the bank. Macquarie trims volume expectations in the construction-exposed businesses of Boral and Coates. It pares its target on the stock to A$50.40 from A$53.05. Macquarie says it still sees the prospect of SGH continuing to pursue its bid to buy BlueScope Steel. Shares are down 1.9% at A$39.91. The stock is 14% lower year to date. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 30, 2026 20:39 ET (00:39 GMT)
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