Citi cuts Titan cement price target, EPS
Citi cuts its price target on Titan Cement to EUR19.5 from EUR21.30 on lower EPS outlook following disappointing 3Q results.
"Our EPS forecasts fall by 17% for 2010 (on one-off losses) and by a smaller 4%-10% for 2011-12. The changes reflect the Greek downturn and a slower U.S. recovery offset by better Eastern Med. As a result, our price target falls by 8% to EUR19.5," says the bank.
Published under Cement News
