reporting this week

Rinker Spend Secures Florida - CSFB

Thursday, November 03, 2005 4:37:43 PM ET
Dow Jones Newswires





0828 [Dow Jones] STOCK CALL: Credit Suisse First Boston maintains Neutral on Rinker (RIN.AU) after over US$250 million in expansionary growth capex announced this week to "strengthen its regional fortress of Florida," particularly in northwest and panhandle regions. Say RIN "should be considered a core portfolio holding," expecting upside risk to 30% U.S. EBIT growth, but capex likely removes any hope of material capital return with next week's 2Q results. Retains target price A$16.35 vs RIN A$15.45. (WEL)


UBS is forcasting Rinker to exceed managements guidance EBIT of +30% for the year to March.

UBS has lifted its target price to $17.35 from $16.75, while its fair value estimate is priced at $15.75.