Acknowleding CSR is unlikely to trade to fundamentals, Morgan Stanley raises its target to $9 from $5.60 to align with the indicative offer by Saint-Gobain.

FY24 earnings (EBIT) of $87m beat the broker's forecast by 1% and was in line with the consensus estimate.

Equal-weight rating and In-Line industry view.

Sector: Materials.

Target price is $9.00.Current Price is $8.90. Difference: $0.10 - (brackets indicate current price is over target). If CSR meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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