James Hardie Industries plc (NYSE:JHX) is one of the 10 Stocks Leave Wall Street Stunned.
James Hardie extended its winning streak to a fifth straight day on Friday, jumping 7.06 percent to close at $27.59 apiece as investor sentiment was bolstered by a bullish rating from an analyst.
In its market note on Friday, William Blair gave the company an “outperform” rating with a price target of $33, or a 19.6-percent upside from its latest closing price.
A close-up of a house with its exterior siding made from the company’s fiber cement building materials.
According to William Blair, James Hardie Industries plc (NYSE:JHX) holds a strong position in the fast-growing siding and composite decking categories, and is capable of growing its sales between 10 and 12 percent, and EBITDA between 12 and 15 percent.
Additionally, optimism was supported by its acquisition of The AZEK Company, which it said would create a leading exterior and outdoor living building products growth platform with efficient scale and profitability supported by leading brands driving material conversion.
James Hardie Industries plc (NYSE:JHX) acquired The AZEK Company in March this year for $8.8 billion as part of its growth strategy.
While we acknowledge the potential of JHX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
