0056 GMT - Building materials supplier James Hardie Industries' debt caught the eye of Barrenjoey analyst Brook Campbell-Crawford. James Hardie's net debt at the end of March was some US$80 million higher than consensus expectations, Barrenjoey says. That's important because James Hardie is levering up to acquire U.S. rival AZEK in a cash-and-stock deal, worth US$8.75 billion when it was announced in March. AZEK shareholders are expected to own about 26% of the combined company. Barrenjoey has a neutral call and A$41.00/share price target on James Hardie, which is down by 4.8% at A$36.64.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 20, 2025 20:56 ET (00:56 GMT)
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