CRH price target lowered to $132 from $135 at Wells Fargo
Wells Fargo lowered the firm's price target on CRH to $132 from $135 and keeps an Overweight rating on the shares. In a research note ahead of earnings for the Q2 Building Mats group, the firm says it sees Q2 pressured by higher energy costs, as pricing actions lag cost inflation. In addition, better evidence of leaner government spending ahead keeps Wells broadly cautious. CRH is the firm's new top pick, with its ACA deal and valuation screening attractive.
Wells Fargo lowered the firm's price target on CRH to $132 from $135 and keeps an Overweight rating on the shares.
In a research note ahead of earnings for the Q2 Building Mats group, the firm says it sees Q2 pressured by higher energy costs, as pricing actions lag cost inflation.
In addition, better evidence of leaner government spending ahead keeps Wells broadly cautious.
CRH is the firm's new top pick, with its ACA deal and valuation screening attractive.