0248 GMT - Australian plumbing supplies company Reliance Worldwide should be able to mitigate most of the impact of U.S. tariffs through pricing, according to its bulls at Jefferies. They see the additional tariff imposed on China resulting in an additional US$40 million headwind for Reliance, with another US$8 million stemming from tariffs on Australia and the U.K. Reliance's ability to pivot manufacturing to other countries is limited by other regional tariffs, but its strong track record of using price to offset cost inflation gives them confidence that it can cope. Jefferies keeps a buy rating and A$6.50 target price on the stock, while watching for further insights. Shares are down 5.3% at A$4.025. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 22:49 ET (02:49 GMT)
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