HeidelbergCement: UBS maintains 'buy( rating

(CercleFinance.com) - UBS reiterates its "buy" recommendation on the share of the building materials supplier HeidelbergCement, sticking to its target price of 75 euros, which suggests upside potential of 17%.


"2019 outlook is positive with easy Q1 comp and energy headwind fading," the broker says in its note.

While it recognises that the IFRS 16 standard dilutes the group's free cash flow yield, the broker considers that it remains attractive, at 8.5% expected for 2019 and 11% thereafter.


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