2342 GMT - Reliance Worldwide's share-price drop since mid-February helps the Australian plumbing supplies company keep its bull at Goldman Sachs despite uncertain demand and potential tariff impacts. GS analysts tell clients that they see Reliance's U.S. end-market exposure as relatively defensive, with 60% of sales going to non-discretionary repair work. They also see signs that the U.K. market may be at or near a bottom. They incorporate risks from copper prices and tariffs into their forecasts but maintain a buy rating on the stock. GS has a target price of A$6.00 on the stock, which is down 0.7% at A$4.53. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 27, 2025 19:42 ET (23:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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