(News Bulletin 247) – Stifel reaffirms its ‘buy’ recommendation and its price target of 65 euros on CRH, before the publication by the Irish building materials group of its first-half results, scheduled for Thursday.
‘With half-year and full-year estimates not particularly difficult’, the broker says it expects a good overshoot and targets above expectations, which it says should support the action on Thursday .
While he believes that rising US bond yields could dampen CRH’s stock in the near term after the release, Stifel believes it should subsequently benefit from a reduction in its significant valuation differential with its US peers.
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