0123 GMT - Macro conditions are a headwind for building materials supplier James Hardie but its business fundamentals and valuation remain attractive, Macquarie says. The merger integration appears to be progressing well and expenses related to the Middle East conflict are expected to be offset by other cost savings and pricing measures, says the bank. Macquarie reiterates an outperform rating, although trims its price target to A$39.60 from A$41.10. Shares are up 5.6% at A$28.03. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
May 20, 2026 21:23 ET (01:23 GMT)
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