CRH: Bryan Garnier still a buyer.
(CercleFinance.com) - Bryan Garnier has reiterated its "buy" rating and fair value of 35 euors on CRH, following an agreement for the acquisition of Ash Grove Cement by the Irish building materials group, at a price of 3.
5 billion euros.
The deal will strengthen both CRH's heavy activities and its exposure to the United States, the broker said in response to this transaction, which is expected to be completed by the end of the year.
Bryan Garnier points out that Ash Grove features as one of the top five cement players in the US, having delivered 8.2 million tonnes of cement last year, and which has a footprint that seems to fit well with that of CRH.
Copyright (c) 2017 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.
5 billion euros.
The deal will strengthen both CRH's heavy activities and its exposure to the United States, the broker said in response to this transaction, which is expected to be completed by the end of the year.
Bryan Garnier points out that Ash Grove features as one of the top five cement players in the US, having delivered 8.2 million tonnes of cement last year, and which has a footprint that seems to fit well with that of CRH.
Copyright (c) 2017 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.