The Boral Limited (ASX: BLD) share price was on a roll this week, gaining 7.78% to close on Friday at $2.77.
It followed a 58% tumble experienced by the stock over the first half of 2022, driven by a February capital return.
In comparison, the S&P/ASX 200 Index (ASX: XJO) lifted 3% this week. It's also slipped around 10% since the start of this year.
But with one broker focusing on blue skies ahead, could the market be seeing the start of an about-face from the Boral share price?
Let's take a closer look at what the expert predicts for the future of the building products and construction materials company's shares.
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46% upside tipped for Boral share price
The Boral share price has struggled in recent times, with inflation and energy prices taking their toll on the company.
Boral is a large energy user, and much of its business relies on the housing market, which can be hit hard by rising inflation and resulting interest rate hikes, as my Fool colleague Brendon Lau reported last month.
Further, the company announced its earnings were hampered by "extraordinary" rain earlier this year.
It expects the rain left a dint to the size of around $30 million in its financial year 2022 earnings while inflation and energy costs could have had a $15 million impact.
On top of that, the company noted it expected its transformation project to deliver a benefit of between $45 million and $50 million. That's lower than its targeted range of between $60 million and $75 million.
But analysts at Macquarie believe the worst could be over for the ASX 200 stock.
The broker has slapped Boral shares with a $4.05 price target and an 'outperform' rating. That indicates a 46.2% upside on the company's current share price.
