We looked at plumbing and hardware business REH last month and with James Hardie (JHX) pushing to 5-month highs and Reliance (RWC) report this morning looking ok at a glance, local stocks with exposure to the lacklustre US housing market look set to continue their recovery. Note, REH report on Monday elevating the risk in the short-term.
- We can see REH testing ~$17 as the ducks align for the recovery story, or 15% higher. We will be reviewing their result come Monday closely.
MM is cautiously bullish towards REH
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