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Mar 11 2024, 07:05 GMT
CRH
Performing like a growth stock but not priced like one
- Sectors : Building Materials
- Companies : CRH
DAVY VIEW
We believe that CRH’s credentials as a growth stock are compelling and, in our view, are materially underappreciated by the market. We anticipate organic EBITDA growth remaining strong in 2024 (Davy: +7%). Further, with CRH’s differentiated strategy having a real impact in its markets and c.70% of the group’s significant five-year financial capacity ($35bn) likely to be deployed for growth, we see double-digit annual EBITDA growth in the medium term and meaningful valuation upside.
