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Mar 11 2021, 06:30 GMT
We have increased our earnings forecasts for CRH following the group’s better-than-expected results. Those results highlighted real progress and structural improvement against the difficult backdrop of the COVID pandemic. The group exits the crisis in fine shape with improving end-markets and leverage levels at multi-year lows. Shareholders are benefitting through improved returns and we think there is more to come. We reiterate our ‘Outperform’ stock rating and increase our price target to €45.