Brickworks' Value Drivers Remain in Place -- Market Talk

Dow Jones

03/12

0038 GMT - Brickworks' value drivers remain in place despite the Australian company's latest impairment of its U.S. operations, according to its bulls at UBS. The investment bank's analysts tell clients in a note that better-than-expected earnings from Brickworks' Australian building-products division offsets weakness from soft U.S. materials demand. Importantly, the property portfolio that underpins Brickworks' valuation continues to perform. The UBS analysts are increasingly confident that negative real-estate revaluations are complete. They point to stable cap rates and income appreciation as old lease agreements expire. UBS cuts its target price 4.9% to A$29.00 and keeps a buy rating on the stock, which is down 1.5% at A$23.50. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 11, 2025 20:38 ET (00:38 GMT)

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The investment bank's analysts tell clients in a note that better-than-expected earnings from Brickworks' Australian building-products division offsets weakness from soft U.S. materials demand. Importantly, the property portfolio that underpins Brickworks' valuation continues to perform. The UBS analysts are increasingly confident that negative real-estate revaluations are complete. They point to stable cap rates and income appreciation as old lease agreements expire. UBS cuts its target price 4.9% to A$29.00 and keeps a buy rating on the stock, which is down 1.5% at A$23.50. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7044":"建筑材料","BKW.AU":"BRICKWORKS LIMITED"},"translate_title":"Brickworks的价值驱动因素仍然存在——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BKW.AU":0.9},"content_text":"0038 GMT - Brickworks' value drivers remain in place despite the Australian company's latest impairment of its U.S. operations, according to its bulls at UBS. The investment bank's analysts tell clients in a note that better-than-expected earnings from Brickworks' Australian building-products division offsets weakness from soft U.S. materials demand. Importantly, the property portfolio that underpins Brickworks' valuation continues to perform. The UBS analysts are increasingly confident that negative real-estate revaluations are complete. They point to stable cap rates and income appreciation as old lease agreements expire. 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