2252 GMT - Any tailwinds that Brickworks experiences from industrial real-estate rents are likely to be offset by uncertainty in investment markets, Morgans analyst Liam Schofield says. He tells clients in a note that he struggles to see catalysts for the stock, which is exposed to investment-market uncertainty through its stake in Washington H. Soul Pattinson. He reckons that divisional earnings at Brickworks's building-products businesses in Australia and the U.S. are approaching a cyclical trough. The outlook in Australia is more positive than in the U.S., he adds. Morgans lifts its target price 6.0%, to A$26.50. Shares are at A$24.03 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 18:52 ET (22:52 GMT)
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