CRH: Barclays downgrades rating

(CercleFinance.com) - Barclays has downgraded its rating on the CRH share from weight in line to underweight, maintaining its target price at 33 euros, in a sector note on building materials companies.


The broker highlights the Irish group's high exposure, alongside those of its peers HeidelbergCement and Buzzi Unicem (which it has also downgraded to underweight), to the United States and infrastructure expenditure in particular.

"We believe a key growth engine could fade into 2020 and non-US (primarily Europe) is unlikely to make up the difference," it says.


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