Business
Boral could fetch up to $2b for US assets: Citi – The Australian Financial Review
The overhaul by new CEO Zlatko Todorcevski has drawn mixed reviews, but the $1.43 billion sale of the 50pc USG Boral stake is a winner for the balance sheet.
The housing construction market is making solid gains in the US but COVID-19 is causing difficulties for the entire industry.
Citi has a ”buy” rating on Boral and says the bigger focus on the Australian operations is a plus, and combined with more cost-cutting could improve returns.
But Morgan Stanley analyst Andrew Scott, who has a 12-month price target of $4.80 on the stock, was slightly underwhelmed by the lack of immediate action in the strategic review of the company.
He said the sale of…
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