CRH: Morgan Stanley sees 'opportunity'; shares rise.
(CercleFinance.com) - Shares of Irish building materials group CRH are up today; after Morgan Stanley upgraded the stock from "equal wight" to "overweight," describing an "opportunity" on the shares.
"The transformation effort, robust outlook for activity in the US and likely synergies on Ash Grove appear underpriced," the brokerage firm summarised in a research report.
Morgan Stanley said it has also raised its target price on CRH - which is now its top pick in the sector - from 32.50 euros to 35 euros.
Listed on Dublin's ISEQ 20 index, CRH is currently up 1.3% at 30.3 euros.
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.
"The transformation effort, robust outlook for activity in the US and likely synergies on Ash Grove appear underpriced," the brokerage firm summarised in a research report.
Morgan Stanley said it has also raised its target price on CRH - which is now its top pick in the sector - from 32.50 euros to 35 euros.
Listed on Dublin's ISEQ 20 index, CRH is currently up 1.3% at 30.3 euros.
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.