0205 GMT - Brickworks' latest impairment of its U.S. assets doesn't fundamentally change Ord Minnett analyst James Casey's positive view of the Australian building-materials provider. Keeping an accumulate rating on the stock, Casey tells clients in a note that the U.S. business will probably fall short of his forecast for a 16% decline in first-half earnings. However, Brickworks' expectation of flat earnings from its Australian building-products division handily beats his forecast of a 15% drop. Building-construction markets in North America and Australia should improve in fiscal 2026 and fiscal 2027, he adds. Ord Minnett has a A$31.00 target price on the stock, which is down 8.4% at A$23.47. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 22:05 ET (02:05 GMT)
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