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."
From 'The Australian' online:Citi upgrades Reliance Worldwide to...
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Last
$4.38 |
Change
0.180(4.29%) |
Mkt cap ! $3.388B | |||
| Open | High | Low | Value | Volume |
| $4.26 | $4.40 | $4.26 | $21.56M | 4.975M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 27282 | $4.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.38 | 297 | 1 |
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| Last trade - 16.10pm 23/07/2025 (20 minute delay) ? |
| RWC (ASX) Chart |