(News Bulletin 247) – Stifel confirms its buy rating on CRH shares, with an unchanged price target of 65 euros.
Yesterday, CRH released a strong set of results and guidance, beating the consensus, and hinting at potential upside consensus.
H1 23 sales increased by +4% to 16,136 ME, slightly ahead of the consensus (beat of +0.7%).
‘Investors should note that annual comparisons were hampered by last year’s very high comparison base,’ said the analyst.
Forecasts point to positive upgrade potential and new earnings momentum. The group now expects EBITDA of $6.2 billion for the 2023 financial year.
“It looks like the stock is now coming out of its long-term downtrend versus the Bloomberg Americas Building Materials Index,” Stifel said.
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