Citi, Jefferies cut forecasts on James Hardie after downbeat FY results

Analysts at Citi lower price target on James Hardie Industries JHX.AX to A$41.5; maintain "Neutral" rating

On Wednesday, the Dublin-based fibre cement maker posted a 9% decline in FY adjusted net income vs last year, due to which the brokerage further downgrades its FY26/27 expectations by 3% to 6%

Jefferies cuts North America sales forecasts by 5%-6% for FY26-FY28 as co expects to see pressure in U.S. residential end markets

Jefferies cuts FY26-FY28 EBIT forecasts by 8%, 9% and 5%, respectively, driven by weaker sales in North America

Analysts on average rate the stock "Hold"; at a median PT of A$44, according to data compiled by LSEG

Shares last traded at A$36.11 and are down 27.9% YTD, as of last close