Analysts at Citi report that while Brickworks' (ASX:BKW) earnings in FY23 were weak, the value of their business investments saw a ‘significant’ rise.

Brickworks, a building materials maker and property developer, has seen its share price increase up to 3.2% to A$24.85, on track for its best day since March 23 if these gains hold.

Citi has slightly raised the Price Target for Brickworks to A$28.75/share from a previous A$28.50/share.

Despite recognizing potential near-term earnings softness for the company, the brokerage firm believes that Brickworks provides unique exposure in a market where industrial assets continue to be in strong demand.

In place of furthering its earnings, Brickworks is currently focusing on maximizing returns from its invested capital, while reducing capital intensity according to Citi.

This analysis contributes to Citi’s decision to retain their ‘buy’ rating on the stock.

Brickworks' stock has seen an 8.6% raise this year as of its last close.

Brickworks (ASX:BKW) is a building materials manufacturer and property developer based in Australia.