Reliance Worldwide is set for a 16% rise in Ebit in FY27, says Jefferies. But little of that will be underlying earnings growth. Analyst Ramoun Lazar says it will almost entirely be driven by a shakeup in tariff regimes and the benefit of closing its Australian brass operations. "Sustained multiple re-rating requires improvement in U.S. macroeconomic backdrop or other initiatives (such as M&A) to deliver earnings benefits," Jefferies says. It retains a buy call on Reliance Worldwide and raises its price target by 11% to A$4.20/share. Reliance Worldwide ended Tuesday at A$3.56/share. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
June 23, 2026 18:49 ET (22:49 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.