2304 GMT - Brickworks's exposure to U.S. multi-residential and non-residential construction is likely to continue weighing on the Australian building-materials company, according to Macquarie analysts. They point out in a note to clients that multi-residential and non-residential work, which has been hit by challenging market conditions and harsh winter weather, accounts for 60% of Brickworks's U.S. revenue. With wider Australian conditions still unclear, the Macquarie analysts are waiting on more macro support before becoming more optimistic on the stock. Macquarie stays neutral on the stock but trims its target price 1.5%, to A$26.90. Shares are up 1.3%, at A$24.15. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 19:05 ET (23:05 GMT)
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