Cemex SAB de CV Rating Reiterated by Morgan Stanley (CX)
Cemex SAB de CV (NYSE:CX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a note issued to investors on Wednesday, StockRatingsNetwork reports. They currently have a $14.00 price target on the stock, up from their previous price target of $13.00. Morgan Stanley’s price objective would suggest a potential upside of 8.95% from the company’s current price.
The analysts wrote, “Consolidation in Mexico’s cement industry came into focus after the Cemex-Holcim asset swap last year,” the report noted. “Further consolidation could be a game-changer with regard to the long-term profitability of the market. We include consolidation in Mexico in our RR and show a 750BP difference in Mexico EBITDA margin between bull and bear. We also include maps of Mexico’s capacity by state, region and we map the country’s construction spending.”
Shares of Cemex SAB de CV (NYSE:CX) traded up 0.83% during mid-day trading on Wednesday, hitting $12.9563. The stock had a trading volume of 23,750,756 shares. Cemex SAB de CV has a one year low of $9.13 and a one year high of $12.99. The stock has a 50-day moving average of $11.71 and a 200-day moving average of $11.33. The company’s market cap is $14.776 billion.
Cemex SAB de CV (NYSE:CX) last released its earnings data on Thursday, October 24th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.12. Analysts expect that Cemex SAB de CV will post $-0.41 EPS for the current fiscal year.
CEMEX SAB de CV (NYSE:CX) is a Mexico-based company principally engaged, through its subsidiaries, in the cement manufacturing.
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