UBS Raises Holcim Price Target

UBS Raises Holcim Price Target
Published: 09 September 2011

UBS lifts its Holcim target to CHF52 from CHF49 to reflect changes to the cement maker’s currency exposure after the Swiss franc ceiling was set by the Swiss National Bank.

"The impact is largely translational as Holcim mostly has its revenues and cost base in local currencies," says analyst Gregor Kuglitsch, who raises his 2011 earnings per share estimate by 4%.