CRH initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Patrick Creuset initiated coverage of CRH with a Neutral rating and $58 price target. The firm also raised its earnings estimates for the company to “reflect a more resilient earnings trajectory, given no signs of a softening in materials price-cost in the near term.” The analyst added that CRH’s balance sheet “provides optionality for further M&A and/or further capital returns,” said the potential inclusion of its shares in U.S. indices “could provide a further catalyst, following the primary listing change to the NYSE.”