Deutshe Bank initiates coverage on cement with a Buy
Deutshe Bank initiates coverage on Cemex with a Buy rating. Deutsche analysts says: “In our view, Cemex’s turnaround is about to start, bolstered by a recovery of volumes in the US, Mexico’s solid housing sector and expected pick up in infrastructure spending, and by government stimulus spending in several other regions. Under our conservative assumptions we anticipate Cemex will yield FCF in 2010-12E of US$2.8bn, enough to meet scheduled debt repayments during the period.”
Published under Cement News
