HeidelbergCement: Barclays lifts target price

(CercleFinance.com) - Barclays has lifted its target price on the German cement maker HeidelbergCement to 77 euros in the wake of the company's full-year results.


In a note, Barclays says that it has increased its EPS estimate by 4%, citing a "slower, but more profitable growth."

"We believe fourth-quarter demonstrates decent underlying earnings growth and good free cash flow control," the broker says. "Despite a likely volumes slowdown, price-cost could become a clear tailwind this year".

Keeping an "overweight" rating on the stock, Barclays continues to see value in the shares, which are trading at a significant discount to peers.

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