CRH shares are up more than 3% on the London Stock Exchange, benefiting from a very positive analysis by UBS.

The analyst firm reiterates its buy recommendation on the stock, but lowers its target price to 7500 pence (from 7640 pence), which represents a potential upside of 27%.

'We believe that the recent downturn in the share price offers an interesting entry point for CRH. We expect forecasts to be maintained, as are results', says UBS.

CRH has confirmed its full-year adjusted Ebitda target of between $6.55 and $6.85 billion.

The group, which has completed a $2.1 billion acquisition in the Texas cement business, says it has identified potential synergies of $60 million on an annualized basis from the deal.

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