
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