Holcim: Oddo downgrades stock

(CercleFinance.com) - Oddo BHF has downgraded its rating on Holcim shares from 'Outperform' to 'Neutral', while cutting its target price for them from 76 Swiss francs to 60 Swiss francs, after the Tagesanzeiger reported that the US Department of Justice is looking into Lafarge's activities in Syria.


The resurgence of this controversy should limit the stock's outperformance potential. In addition, analysts, who are largely buyers at this stage, could be less positive, in Oddo's opinion, the analyst says.

However, over the longer term, the broker says that it remains convinced that the transformation undertaken by current management, both in terms of content and form, does not seem to be appreciated at its true value.


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