BoF-Merrill Lynch upgrades Lafarge’s rating to "buy"

BoF-Merrill Lynch upgrades Lafarge’s rating to "buy"
Published: 19 May 2011

Bank of America-Merrill Lynch upgraded French cement maker Lafarge (EPA:LG) to "buy" from "neutral", raising the share price target to EUR 53 from EUR 47 today.

The broker commented that the sector fundamentals are improving.

Recently, Lafarge agreed to sell its cement and concrete assets in the southeast of the USA with an enterprise value of US$760m (EUR 533m) to Colombian cement maker Cementos Argos, in a bid to cut its debt.