- (PLX AI) - HeidelbergCement shares were down more than 2% in early trading after Bank of America analysts downgraded the stock.
- • HeidelbergCement cut to neutral from buy at BofA, with price target cut to EUR 70 from EUR 90
- • Margins may suffer through next year due to rising costs of coal and electricity, BofA said
- • If HeidelbergCement raises its own prices next year by 10%, it may not be enough to offset the input inflation and protect earnings: BofA
- • Still, the company remains cheaply valued, the analysts said
- • The new price target implies an upside of 13%
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