CRH: Oddo raises target price
(CercleFinance.com) - Oddo believes that CRH's 2020 results are sound, given the pandemic, with EBITDA reaching 4.
6 billion dollars, up 3.4%, above the consensus (4.45 billion dollars).
Management is very confident about the outlook, analysts say. In North America, the infrastructure order book is equivalent to last year's level and in Europe, price discipline should continue in 2021. Finally, in UK, a return to more normal business activity is expected in the second half of the year, thanks to a catch-up effect, as well as the start of major infrastructure projects.
Bearing this in mind, Oddo maintains its outperform rating on CRH shares, having increased its corresponding target price to 43 euros (vs. 38 euros previously).
Copyright (c) 2021 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.
6 billion dollars, up 3.4%, above the consensus (4.45 billion dollars).
Management is very confident about the outlook, analysts say. In North America, the infrastructure order book is equivalent to last year's level and in Europe, price discipline should continue in 2021. Finally, in UK, a return to more normal business activity is expected in the second half of the year, thanks to a catch-up effect, as well as the start of major infrastructure projects.
Bearing this in mind, Oddo maintains its outperform rating on CRH shares, having increased its corresponding target price to 43 euros (vs. 38 euros previously).
Copyright (c) 2021 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.