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Sep 6 2019, 07:25 IST/BST
Building Materials
Cement roadshow notes – CRH, Cemex, HeidelbergCement and LafargeHolcim
- Sectors : Building Materials
- Companies : Buzzi Unicem | Holcim | Heidelberg Materials | CRH | Saint-Gobain Group
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| Buzzi Unicem | OUTPERFORM | 04/04/16 | Neutral | 05/08/15 | 1932c |
| CRH | OUTPERFORM | 23/05/12 | Neutral | 12/01/12 | 3063c |
| Heidelberg Materials | OUTPERFORM | 16/06/17 | Neutral | 05/02/14 | 6424c |
| Holcim | NEUTRAL | 09/01/19 | Underperform | 17/11/15 | 4702chf |
| Saint-Gobain Group | NEUTRAL | 09/01/19 | Outperform | 07/09/15 | 3340c |
DAVY VIEW
Davy hosted its Annual Industrials Conference in New York on Thursday September 5th. Companies attending included CRH, Cemex, HeidelbergCement and LafargeHolcim. Updates were generally reassuring on trading, suggesting little risk to full year guidance across the sector. End-market trends were broadly in-line with Q2 updates with pockets of softness (India, Indonesia Mexico), pricing strength and a bullish tone on US trading. With debt levels falling, capital allocation and acquisitions were hot topics for both CRH and LafargeHolcim. Our detailed roadshow notes are below.
