2331 GMT - BlueScope's 1H underlying Ebit is a 5% beat versus consensus, and a 9% lift in Australian Colorbond volumes suggests residential demand may have turned a corner faster than expected, says Citi analyst Paul McTaggart. While 2H underlying Ebit guidance is below consensus of A$443 million, expectations of A$500 million in future annual earnings from growth projects is a positive, McTaggart says. Citi has a buy rating and A$24.00 target on BlueScope. The stock is up 8.5% at A$24.24/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 16, 2025 18:31 ET (23:31 GMT)
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