0347 GMT - When it comes to SGH, Macquarie's focus is on M&A potential. "We remain focused on near-term deal potential, given balance sheet readiness and a fitting opportunity to add a growth pillar," says the bank. Conglomerate SGH earlier this year bid for steelmaker BlueScope, which rejected the offer as insufficient. Macquarie has an outperform rating on SGH. It trims its target to 50.35 Australian dollars from A$50.40, owing to earnings changes. "Macro conditions are complex, but SGH execution remains strong and Boral likely continues to support the majority of near-term growth," Macquarie says. Shares are up 1.8% at A$41.85. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
May 21, 2026 23:47 ET (03:47 GMT)
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