CRH: Barclays raises target price
(CercleFinance.com) - Barclays has reinstated its "overweight" recommendation on the CRH stock, which is its favorite "top pick" in its sector, while raising its target price for the share from 30 euros to 33 euros, after the Irish building materials supplier published its annual results.
While it makes virtually no changes to its estimates for the group, the broker believes that CRH provides “optionality” via potential levers, with "conservative guidance leaves room for upside".
Barclays also points to levers including "strong B/S and FCF allow for bolt-on deals and/or share buyback," while "the entry of an activist shareholder could trigger value monetization actions".
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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.
While it makes virtually no changes to its estimates for the group, the broker believes that CRH provides “optionality” via potential levers, with "conservative guidance leaves room for upside".
Barclays also points to levers including "strong B/S and FCF allow for bolt-on deals and/or share buyback," while "the entry of an activist shareholder could trigger value monetization actions".
Copyright (c) 2019 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.