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$27.33 reece limited

what about Citi Ryes... l am a little gobsmacked?they upgraded...

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Chris60

2,508 Posts.

80

28/02/24

11:46

Post #: 72641119
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Originally posted by Ryes: ↑

"Morgans rates REH as Reduce (5) -Despite the subdued macroeconomic backdrop, the 1H result for Reece came in ahead of Morgans forecasts due to higher-than-expected earnings growth for A&NZ and the US.

The broker highlights a 60bps rise in the group earnings (EBITDA) margin to 11.6%, while the return on capital employed (ROCE) measure rose by 80bps to 16.1%.Management anticipates a softening 2H environment for A&NZ in the 2H.Morgans remains cautious on the outlook in A&NZ and the US and believes Reece is overvalued.

The Reduce rating is kept, while the target rises to $22.10 from $15.50 on earnings upgrades and a financial model roll-forward.

Target price is $22.10 Current Price is $28.50 Difference: minus $6.4 (current price is over target)."

Nice to see a broker give a target price in the $20+ range

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what about Citi Ryes... l am a little gobsmacked?

they upgraded REH to Neural with a target price now of $28.90...

struth that's even higher than the current price?

REH Price at posting: $28.00 Sentiment: None Disclosure: Held
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0 Great analysis

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(20min delay)
Last $27.33		Change 0.660(2.47%)		Mkt cap ! $17.65B

Open	High	Low	Value	Volume
$27.02	$27.47	$26.96	$11.84M	433.6K

Buyers (Bids)

No.	Vol.	Price($)
2	2016	$27.31

Sellers (Offers)

Price($)	Vol.	No.
$27.34	1203	1

View Market Depth

No.	Vol.	Price($)
3	1716	27.240
1	892	27.200
1	2729	27.190
2	1493	27.170
1	1011	27.140

Price($)	Vol.	No.
27.340	1203	1
27.380	2000	1
27.410	1000	1
27.430	892	1
27.450	824	2

Last trade - 16.10pm 16/05/2024 (20 minute delay)


Last $27.33			Change 0.660 ( 2.80 %)
Open	High		Low	Volume
$27.04	$27.46		$26.99	52387
Last updated 15.59pm 16/05/2024 ?

REH (ASX) Chart