Berenberg Bank Thinks Cemex SAB’s Stock is Going to Recover

In a report released yesterday, Harry Goad from Berenberg Bank maintained a Buy rating on Cemex SAB (CXResearch Report), with a price target of $7.20. The company’s shares closed last Tuesday at $5.69, close to its 52-week low of $5.28.

According to TipRanks.com, Goad is ranked #6671 out of 7791 analysts.

Currently, the analyst consensus on Cemex SAB is a Strong Buy with an average price target of $8.60, which is a 56.9% upside from current levels. In a report issued on February 8, J.P. Morgan also maintained a Buy rating on the stock with a $9.00 price target.

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Cemex SAB’s market cap is currently $8.26B and has a P/E ratio of 10.11.

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CEMEX SAB de CV engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, and aggregates. It operates though the following geographical segments: Mexico; United States; Europe; South, Central America and the Caribbean (SCA&C); Asia, Middle East and Africa (AMEA); and Others. The Europe segment covers United Kingdom, Germany, France, Spain, and Czech Republic, Poland and Latvia, as well as trading activities in Scandinavia, and Finland. The SCA&C segment includes Colombia, Panama, Costa Rica, Caribbean TCL, the Dominican Republic, Puerto Rico, Nicaragua, Jamaica, the Caribbean, El Salvador, and Guatemala. The EMEA segment comprises of Egypt, Israel, the Philippines, and the United Arab Emirates. The Others segment refers to the cement trade maritime operations, information technology solutions business, and other corporate entities as well as other minor subsidiaries with different lines of business. The company was founded by Lorenzo Zambrano Gutierrez in 1906 and is headquartered in San Pedro Garza Garcia, Mexico.

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