CRH: Credit Suisse still a buyer
(CercleFinance.com) - Credit Suisse has reiterated its 'outperform' rating on the shares of Irish building materials group CRH, along with its target price of 50 euros, following its strong interim results, with EBITDA growth exceeding expectations and the group confident in its full-year targets.
"Following the H1 beat and including the Barrett acquisition into our estimates, we raise our 2022-2024 EBITDA estimates from continuing operations by an average 3% and EPS by an average 5%," the broker said.
"Looking into 2023 and beyond we see a constructive market backdrop for CRH supported by public infrastructure spending in both North America and Europe," it added, also pointing to the results produced by its solutions model.
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