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CRH: 'an attractive entry point' according to UBS
(CercleFinance.com) - UBS reiterates its 'buy' recommendation on the stock, but lowers its target price to 7500 pence (from 7640 pence), which represents a potential upside of 27%.
"We think the recent sell off offers an attractive entry point into CRH. We expect guidance to be held alongside results", UBS says.
CRH has confirmed its full-year adjusted Ebitda target of $6.55bn to $6.85bn.
The group, which has completed a $2.1bn acquisition in the Texas cement business, says it has identified potential synergies of $60m on an annualized basis from the deal.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
"We think the recent sell off offers an attractive entry point into CRH. We expect guidance to be held alongside results", UBS says.
CRH has confirmed its full-year adjusted Ebitda target of $6.55bn to $6.85bn.
The group, which has completed a $2.1bn acquisition in the Texas cement business, says it has identified potential synergies of $60m on an annualized basis from the deal.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.