CRH assumed with a Buy at Citi

Citi analyst Anthony Pettinari assumed coverage of CRH with a Buy rating and 5,700 GBp price target ahead the company’s planned re-listing on the New York Stock Exchange next month. While shares are up 42% year-to-date, there is further upside on a potential re-rating as U.S. investors look for cheaper ways to play the Infrastructure theme, the analyst tells investors in a research note. The firm says improved disclosures following the NYSE listing should boost investor understanding in the stock.