HSBC downgrades Holcim to underweight from overweight. Energy cost inflation is likely to undermine cement margins in 2011-12 and the US construction market is likely to remain in the doldrums this year. The bank cuts its Holcim target price to CHF55 (EUR41.8) from CHF75. Published under Cement News
HSBC downgrades Holcim to underweight from overweight. Energy cost inflation is likely to undermine cement margins in 2011-12 and the US construction market is likely to remain in the doldrums this year. The bank cuts its Holcim target price to CHF55 (EUR41.8) from CHF75. Published under Cement News
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