Berenberg Cuts Heidelberg Materials Price Target to €210
Berenberg maintained its Buy rating and lowered its price target from €215 to €210 following Heidelberg Materials’ third-quarter results.
Following the release of third-quarter results, analyst Harry Goad of Berenberg Bank updated his outlook on Heidelberg Materials. While the bank maintained its 'Buy' rating, the price target was adjusted from 215 to 210 euros to reflect updated forecasts aligned with the company's annual guidance ranges. The analyst noted that the building materials group demonstrated robust performance in the third quarter despite a challenging economic and geopolitical environment and remains attractively valued.