2256 GMT - Headwinds buffeting GWA's growth outlook are too strong for Macquarie. It downgrades GWA to neutral, from outperform, and lowers its price target by 8.6% to A$2.65/share following the building fixtures supplier's 1H result. "End markets continue to show weakness, which coupled with monetary policy changes, may be an ongoing theme," says Macquarie. It also points to concerns over consumer confidence and increased spending on product development. Together, these could weigh on growth in the near term. "An attractive 6% dividend yield and 9% free cash flow yield provide a strong underpin," says Macquarie. "But softer growth and a shifting macro context counter our near-term enthusiasm in the thesis." GWA ended Monday at A$2.62. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 16, 2026 17:56 ET (22:56 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.