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ASX-listed shares of James Hardie slip to over 21-month low on purchase risks

ReutersMar 25, 2025 12:04 AM

ASX-listed shares of fiber cement maker James Hardie Industries JHX.AX extend losses, slip as much as 4.9% to A$38.06, their lowest levels since June 13, 2023

Co announces deal to buy U.S. artificial decking maker AZEK AZEK.N in deal priced at $8.75 billion

Stock is the top loser in the ASX 200 benchmark

Macquarie downgrades stock to "neutral" from "outperform" and cuts PT to A$44 from A$65 on estimating that the proposed transaction will dilute returns materially, weighing on valuation

Both Citi and Morgan Stanley flag risks of a weaker housing market and rising raw material costs

Morgan Stanley expects market to be skeptical of revenue synergy targets set by co

Stock down 20.1% YTD

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