0127 GMT - Brickworks' valuation continues to look full to Macquarie analysts amid soft demand for building products in the U.S. and Australia. While real-estate cap rates have stabilized and long-term growth in rents from Brickworks' industrial remains solid, the near-term outlook for construction keeps the Macquarie analysts cautious. They tell clients in a note that Brickworks' first-half loss in North America was larger than they had anticipated. Macquarie cuts its target price on the stock 3.3% to A$26.00 and maintains a neutral rating. Shares are up 0.2% at A$24.08. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 21:27 ET (01:27 GMT)
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