0158 GMT - Shares in James Hardie are likely to remain driven by sentiment towards the U.S. housing cycle, says UBS. The bank sees "the timing and shape of any recovery dependent on improving consumer confidence and lower mortgage rates." James Hardie's FY27 guidance suggests a conservative 2H outlook, with no assumption of a macro recovery, says UBS. The bank upgrades its FY27 Ebitda forecast by 7% to US$1.628 billion, slightly above the top end of the company's guidance range. Longer term, UBS thinks there's "upside from the structural underbuild of U.S. housing and material conversion opportunities across siding and decking." The bank keeps a neutral rating on James Hardie's Australian shares, but raises its target price to 45.00 Australian dollars from A$40.00. Shares are down 1.3% at A$42.60.