HeidelbergCement: Barclays reduces its recommendation

(CercleFinance.com) - Barclays has downgraded its recommendation to 'equal weight' on the share of the Irish construction materials group in a note to the sector.


“We believe the strong cement sector performance YTD calls for a breather, especially given weather disruptions in the US that will likely hit Q2 performance,” the broker says.

Barclays had reconfirmed its 'overweight' rating at the end of February 2019 on HeidelbergCement and had raised its price target from 71 to 77 euros, stating that they continued to see value in the share, bearing in mind that it was trading at a significant discount compared to its peers.

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