HeidelbergCement: Stifel raises TP
(CercleFinance.com) - Stifel maintains its "buy" rating on HeidelbergCement shares, raising its target price for them from E70 to E75, believing that "the market is still failing to integrate the significant fall in electricity costs in Europe and stronger pricing power".
"The stock remains the most undervalued in our universe, even under a mid-cycle
recession scenario," the broker says, which has raised its earnings estimates for the German cement maker, based on lower energy costs.
Stifel also notes that "The recently published 2022 Annual Report highlights the Group's leadership with regard to CCUS and its efforts around the circular economy".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"The stock remains the most undervalued in our universe, even under a mid-cycle
recession scenario," the broker says, which has raised its earnings estimates for the German cement maker, based on lower energy costs.
Stifel also notes that "The recently published 2022 Annual Report highlights the Group's leadership with regard to CCUS and its efforts around the circular economy".
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.