Holcim: Stifel raises target price

(CercleFinance.com) - Stifel reaffirms its 'hold' recommendation on Holcim shares, with a target raised from 71 CHF to 74 CHF, following an update of its estimates based on first-half results and an extended roadshow in the USA with the Group.


Although the Group is pursuing a value over volume strategy, we expect a rebound in volumes to strongly support earnings from next year onwards, the broker argues.

While its methodology still offers only limited upside potential for the time being, Stifel believes that a rebound in volumes and peer valuations could provide marked upside potential, while the dividend supports the share at these levels.


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