CRH: Credit Suisse upgrades stock

(CercleFinance.com) - Credit Suisse has upgraded its rating on the CRH share from "neutral" to "outperform," while maintaining a target price at 38 euros (current price:31.
62, +2.7%), after adjusting its EPS estimates for the Irish building materials supplier.

In its comments, the broker reduces its EPS assumptions by 28% for 2020, followed by 19% for 2021, to reflect the impact of Covid-19, while introducing an EPS estimate of 3.10 dollars for 2022.

However, "With 97% of revenue derived from North America and Europe, CRH looks well positioned to weather the pandemic and for post-pandemic recovery from resilient demand and a constructive price/cost environment," the broker said.


Copyright (c) 2020 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.