CRH: Oddo confirms 'buy' rating
(CercleFinance.com) - Building materials group CRH has reported H1 2019 EBITDA of 1.
54 billion euros, up 5% LFL and in line with the consensus of 1.51 billion euros and the group's guidance of "greater than 1.5 billion euros".
The group's revenues are up 11% in real terms and 3% LFL over the period, at 13.2 billion euros.
Oddo says that it was slightly more pessimistic, expected slightly lower EBITDA given the bad weather in the United States.
Following this publication, Oddo confirms its “buy” rating on the share, along with its target price of 32 euros.
The broker believes that the share price will continue to rise, given: 1/ the new share buyback program; 2/ a favourable comparison basis for 2019 after only +1%e LFL growth in EBITDA in 2018 (+2.4% in 2017).
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