Oppenheimer Starts James Hardie Industries (JHX) at Outperform

Oppenheimer analyst Tyler Batory initiates coverage on James Hardie Industries (NYSE: JHX) with a Outperform rating and a price target of $28.00.

The analyst comments "We initiate coverage of James Hardie (JHX) with an Outperform rating and a $28 price target. The key to our positive stance lies in our perspective on the AZEK transaction. This deal should reinvigorate the company's fiber cement business in North America and set JHX on an enhanced growth trajectory. We see complementary geographic exposures, a stronger competitive position, and channel synergies supporting our perspective. Multiple expansion should follow as the company delivers on its stated growth synergies, exceeds our financial forecasts, and reduces leverage toward its 2x target."

For an analyst ratings summary and ratings history on James Hardie Industries click here. For more ratings news on James Hardie Industries click here.

Shares of James Hardie Industries closed at $22.39 yesterday.

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