RBS keeps "sell" on Lafarge ahead of Q3 earnings

RBS keeps "sell" on Lafarge ahead of Q3 earnings
Published: 04 November 2009

RBS reaffirmed its "sell" rating with a target of EUR 29.4 on Lafarge ahead of the publication of its third-quarter results on November 6.

RBS expects an underlying net profit of EUR310m  in the third quarter, down 52% year-on-year. For the nine-month period, the analysts see a drop of 55% to EUR 637m in net earnings.

Moreover, RBS expects Lafarge’s quarterly results to show the resilience of the emerging markets and the weakness of the mature markets.