JPMorgan Raises Holcim To Overweight

JPMorgan Raises Holcim To Overweight
Published: 20 September 2012


JPMorgan Cazenove raises Holcim to overweight from neutral and lifts its price target to CHF70 from CHF56.50 on the notion that the 2Q uptick in emerging market margins could be the start of a longer run for cement sales in those markets. "Its emerging markets business is seeing margins on the turn driven by rising prices, less new capacity and relatively stable energy costs," says analyst Michael Morris. "Its portfolio gives it better access to Asia and Latin America which in the near term is a positive," he notes. (Source: Dow Jones Global Equities News).