New analysis from the team at Morgans has included upgrades for two ASX 200 shares.
The ASX 200 company held its combined James Hardie and AZEK Investor Day in New York on 15 September 2026.
We cut FY27/28F Lotteries revenue by 2-3% and Lotteries EBITDA by 3-4%, with EPS down 6%/4%.
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Both James Hardie Industries PLC and Lottery Corporation Ltd received a new accumulate rating from the broker. James Hardie Industries shares have risen by over 21% year-to-date.
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New analysis from the team at Morgans has included upgrades for two ASX 200 shares.
James Hardie Industries shares have risen by over 21% year-to-date, while Lottery Corporation has fallen almost 7%.
However both have upside moving forward according to the team at Morgans.
James Hardie is the world's leading producer and marketer of fibre cement building products and a supplier of fibre gypsum and cement-bonded boards.
The ASX 200 company held its combined James Hardie and AZEK Investor Day in New York on 15 September 2026.
The day centred on the "built to outperform, resilient by design" tagline, as management guided to 4% to 7% organic sales growth above market, while stressing that this growth did not need a US housing recovery.
Morgans said growth will come from the AZEK combination, synergies ahead of plan, and a leaner, lower-capex portfolio after the Europe sale.
We cut FY27/28F Lotteries revenue by 2-3% and Lotteries EBITDA by 3-4%, with EPS down 6%/4%.
The broker has upgraded its target price to $5.40.
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