LafargeHolcim: Bryan Garnier adjusts target
(CercleFinance.com) - Bryan Garnier maintains its 'neutral' position on LafargeHolcim but adjusts its fair value from 51 to 49 Swiss francs after the publication of EBITDA figures 4% below consensus for the first quarter.
“Performance was penalised by harsh winter conditions and unfavourable calendar effects in Europe, while some Middle-East and African markets were difficult”, explains the broker.
However, the financial intermediary notes that the key region of Asia-Pacific is looking buoyant and that the French-Swiss construction materials group's outlook is overall positive, with guidance reiterated.
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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.
“Performance was penalised by harsh winter conditions and unfavourable calendar effects in Europe, while some Middle-East and African markets were difficult”, explains the broker.
However, the financial intermediary notes that the key region of Asia-Pacific is looking buoyant and that the French-Swiss construction materials group's outlook is overall positive, with guidance reiterated.
Copyright (c) 2018 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.