From 'The Australian' online:Citi upgrades Reliance Worldwide to Buy from Neutral and boosts its target price 40 per cent to $5.45 after raising its EBITDA expectations 2-3 per cent through FY24-FY26 on the back of a improving US outlook, offset by a more cautious EMEA.
"Looking forward, we’re optimistic on the US following a strong result," says Citi analyst Samuel Seow.
"Margins were solid and, theoretically with structural changes within the business, these could be higher than prior periods on a like-for-like.
"EMEA still carries risks, however these are reduced with the bar now set at double-digit declines in a falling mortgage rate environment.
"Consequently, with the trough in earnings now in and what we see as potential margin upside, we upgrade to Buy."
Ann: RWC FY2024 Interim Results Presentation, page-5
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Last
$5.56 |
Change
0.050(0.91%) |
Mkt cap ! $4.337B | |||
| Open | High | Low | Value | Volume |
| $5.50 | $5.65 | $5.49 | $6.092M | 1.090M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8627 | $5.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.64 | 9596 | 3 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| RWC (ASX) Chart |