Boral Ltd
BLD: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$6.80 | Dgd | Czystvwq |
Seven Group and Boral: Guidance Upgrades Don’t Change Our Longer-Term View
We make no change to our AUD 27.50 fair value estimate for no-moat Seven Group nor to our AUD 4.25 fair value estimate for no-moat Boral. Upgrades to fiscal 2024 earnings for both are positive, though we read no material long-term implications from the changes. Increasing demand for support activity across mining production, strong committed order books, and continued strength in infrastructure and construction feature in the upgrades. Our midcycle estimates, however, are little changed.