Tiger Brokers

BUZZ-Citi downgrades Australia's Reliance Worldwide, cites copper costs

Reuters
Jan 19
BUZZ-Citi downgrades Australia's <a href="https://laohu8.com/S/RLLWF">Reliance Worldwide</a>, cites copper costs

** Citi downgrades Australian plumbing services provider Reliance Worldwide Corporation's RWC.AX rating from 'Buy' to 'Neutral'

** Brokerage says rising copper costs could trigger up to A$8 million ($5.33 million) headwind to co's 2HFY26 earnings

** Earnings estimate for RWC shows about 4% decrease for FY26 and 10% for FY27

** "RWC is a well-managed business, however we’re unsure this copper spike is within company controllables" - Citi

** Cuts target price from A$5 to A$4.25 apiece

** 8 of 15 analysts rate the stock "buy" or higher, others "hold"; their median PT is A$4.7 – LSEG data

** Stock fell 23.1% in 2025, up 35% YTD

($1 = 1.4999 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru; Editing by Edmund Klamann)

((Aamir.SheikKhalid@thomsonreuters.com))

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