The firm states, "Although we are reducing our EBITDA and EPS estimates, we continue to expect both cyclical recovery and high long-term growth rates in TXI’s major markets of Texas and California. TXI also has strong asset backing, with modern cement capacity in Texas and California, which we estimate has a replacement cost equating to around US$66 per share.”
FY12 EPS goes from ($0.61) to ($1.42) and FY13 EPS from $0.40 to ($0.98).
