James Hardie's Azek Buy Will Take Some Time to Digest -- Market Talk

Dow Jones

03-25

2208 GMT - Barrenjoey thinks it will take the market some time to digest James Hardie's US$8.7 billion acquisition of Azek, and downgrades the stock to neutral from overweight as a result. "Azek appears to be a high-quality company but we see the following challenges with the deal," says analyst Brook Campbell-Crawford in a note. Those challenges include a 7% drag on James Hardie's EPS in FY 2026 and FY 2027, and an offer premium that exceeds the likely savings that can be made. It also raises James Hardie's pro-forma leverage to 2.5x in FY 2026, from 0.7x in FY 2024, going into a deteriorating new housing market in the U.S., Barrenjoey says.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

March 24, 2025 18:08 ET (22:08 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Those challenges include a 7% drag on James Hardie's EPS in FY 2026 and FY 2027, and an offer premium that exceeds the likely savings that can be made. It also raises James Hardie's pro-forma leverage to 2.5x in FY 2026, from 0.7x in FY 2024, going into a deteriorating new housing market in the U.S., Barrenjoey says.(david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 24, 2025 18:08 ET (22:08 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"JHX","symbol_name":"詹姆斯哈迪","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2522086762","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2522086762","pubTimestamp":1742854080,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2208 GMT - Barrenjoey thinks it will take the market some time to digest James Hardie's US$8.7 billion acquisition of Azek, and downgrades the stock to neutral from overweight as a result. \"Azek appears to be a high-quality company but we see the following challenges with the deal,\" says analyst Brook Campbell-Crawford in a note. Those challenges include a 7% drag on James Hardie's EPS in FY 2026 and FY 2027, and an offer premium that exceeds the likely savings that can be made. 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Those challenges include a 7% drag on James Hardie's EPS in FY 2026 and FY 2027, and an offer premium that exceeds the likely savings that can be made. It also raises James Hardie's pro-forma leverage to 2.5x in FY 2026, from 0.7x in FY 2024, going into a deteriorating new housing market in the U.S., Barrenjoey says.(david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 24, 2025 18:08 ET (22:08 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}