Holcim: penalised by broker downgrade

(CercleFinance.com) - Holcim is down nearly 2% in Zurich, penalized by a downgrade by UBS from "buy" to "neutral" with a price target reduced from 55 to 45 Swiss francs on the building materials group's stock.


The broker notes that the shares have resisted well this year in the face of a rapidly declining sector, the broker said, although adds that it he sees less value in the stock, with its new target price leaving just 5% upside potential for the stock.

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