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CSR Ltd (CSR) $5.38

The building stocks have remained firm over recent weeks but we believe they’re becoming fully valued considering the position of the construction industry i.e. the risk/reward is unattractive after their strong 12-month recovery. Overnight, J.P Morgan downgraded the building materials sector in the US, sighting a very similar reason.

  • We can see CSR making fresh 2023 highs but we wouldn’t chase the move.
MM is neutral toward CSR as it approaches $5.50
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