HeidelbergCement: cement sets - Credit Suisse still on hold
(CercleFinance.com) - The group organised a day to present its new strategic objectives, called "Beyond 2020, at which it set a new CO2 reduction target.
Following this presentation, Crédit Suisse confirms its neutral rating on the share with a target price of 60 euros.
Management aims to increase the group's EBITDA margin by 300 bp by 2025 (400-500 bp in the US).
The margin expansion target is backed by a strategy to simplify and improve its asset portfolio, which includes asset disposals, improvements in the asset base that are based on innovation, with a net investment budget of up to 1.2 billion euros per year (including 50 million euros for CO2 reduction).
The market doesn't seem too convinced either - the share is down over 1.5% in late Friday morning trading.
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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.
Following this presentation, Crédit Suisse confirms its neutral rating on the share with a target price of 60 euros.
Management aims to increase the group's EBITDA margin by 300 bp by 2025 (400-500 bp in the US).
The margin expansion target is backed by a strategy to simplify and improve its asset portfolio, which includes asset disposals, improvements in the asset base that are based on innovation, with a net investment budget of up to 1.2 billion euros per year (including 50 million euros for CO2 reduction).
The market doesn't seem too convinced either - the share is down over 1.5% in late Friday morning trading.
Copyright (c) 2020 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.