BLD’s share price has bounced an impressive +58% from its October 2022 low, yet another great example of the elastic band of pessimism stretching way too far, in this case, analysts forecasted rising interest rates would cause havoc in the building industry, and while there have been some painful failures things often don’t end up as bad as many foresee, Boral have even managed to push through aggressive price increases without negatively impacting volumes.
- We can see BLD popping above $4 in the coming weeks but in our opinion, the risk/reward dictates investors should not chase this strength.
MM is neutral to bullish on BLD
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