LafargeHolcim: down whilst UBS maintains target price
(CercleFinance.com) - The LafargeHolcim share has had a difficult Tuesday 8 May.
Falling 2.8% just after midday, broker UBS maintains its 'Neutral' recommendation and its target price (55.50 CHF).
LafargeHolcim this morning published a 13.4% drop in underlying EBITDA to 700 million Swiss francs for the first quarter of 2018. On a like-for-like basis it has declined 7.7%.
The construction materials group's net sales remained stable in published data at 5,830 million francs, but grew 3.1% like-for-like, bolstered by an increase in cement volumes for the first three months of the year.
“Both Europe and North America were held back by harsh weather conditions” and performance in the Middle East was “weak” says the broker.
However, it does highlight that sales in Asia Pacific have risen, which is a sign of good prospects for the group.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Falling 2.8% just after midday, broker UBS maintains its 'Neutral' recommendation and its target price (55.50 CHF).
LafargeHolcim this morning published a 13.4% drop in underlying EBITDA to 700 million Swiss francs for the first quarter of 2018. On a like-for-like basis it has declined 7.7%.
The construction materials group's net sales remained stable in published data at 5,830 million francs, but grew 3.1% like-for-like, bolstered by an increase in cement volumes for the first three months of the year.
“Both Europe and North America were held back by harsh weather conditions” and performance in the Middle East was “weak” says the broker.
However, it does highlight that sales in Asia Pacific have risen, which is a sign of good prospects for the group.
Copyright (c) 2018 CercleFinance.com. All rights reserved.