As previously reported, BofA analyst Carlos Peyrelongue upgraded Cemex (CX) to Buy from Neutral with a price target of $10.80, up from $10, after tweaking estimates ahead of Q3 earnings and factoring in the company’s “successful” cost saving efforts. The new CEO is “laser focused” on total shareholder returns and the firm sees the company’s key initiatives increasing cash conversion, the analyst tells investors.
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