2345 GMT - Building materials supplier James Hardie's revised FY 2025 guidance was better than many investors feared. But it's still waiting for an inflection point in macro conditions in the U.S., Morgan Stanley says. Repair & Remodel markets remain soft and James Hardie doesn't expect a recovery this year. "While we think there are some green shoots for the housing market with the clearing of the election and also 75 bps of rate cuts, we continue to see a challenging backdrop though to mid 2025," analyst Andrew G. Scott says. It appears that some homeowners are waiting on the sidelines for further certainty and to see a more meaningful reduction in mortgage rates, MS adds. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 13, 2024 18:45 ET (23:45 GMT)
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