Goldman Sachs lifts rating on Danish FLSmidth to "buy"

Goldman Sachs lifts rating on Danish FLSmidth to "buy"
10 June 2010

Goldman Sachs has upgraded the recommendation on Danish cement and minerals system supplier FLSmidth & Co A/S to "buy" from "neutral" citing the company’s position to benefit from the recovery of investments in the mineral and cement industry.
The broker also raised the 12-month price target to DKK613, which corresponds to an upside of 61%.
Goldman Sachs wrote in the analysis that FLSmidth with its 28% sales exposure in the BRIC countries (Brazil, Russia, India and China) is well positioned to fight the locally-placed competitors. The broker estimated further that FLSmidth will outperform the market growth over the next business cycle, and that the current quotation is a good opportunity to buy shares.
Published under Cement News