CRH: Oddo raises target price

(CercleFinance.com) - Oddo BHF reinstates its "outperform" rating on CRH shares, having increased its target price for them from 48 euros to 55 euros, with the broker increasing its forecasts for the group in the wake of its trading update for the first nine months of the year.


The analyst says that CRH seems well positioned in view of the infrastructure stimulus plan in the US, which is its largest market, adding that the group will be more active in acquisitions and new share buyback programs.

Oddo also points out that the Irish building materials group generates only 15% of its revenues from cement, of which 8% is in Europe alone, and considers that in this context, the share's valuation does not seem excessive.

The share is currently up over 2%.


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