CSR has rallied by a similar degree as JHX with the stock currently trading +32% above its early 2023 low as it looks for a domestic housing recovery in the years ahead i.e. with 650,000 people due to move to Australia and a rental crisis already weighing on many people’s lives the government needs the industry to regain its mojo asap.
- We are looking for CSR to test $5.50 over the coming weeks when the risk/reward will switch us to a more neutral stance.
MM is mildly bullish toward CSR short term
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