Cemex downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Benjamin Theurer downgraded Cemex to Equal Weight from Overweight with an unchanged price target of $9. The company reported strong fiscal year results, recovering input cost inflation from recent years, and while a dividend announcement was no surprise, “it is clearly welcome,” the analyst tells investors in a research note. However, the firm says Cemex’s growth in fiscal 2024 “seems more muted than our initial thoughts.”