CRH initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of CRH with an Outperform rating and $110 price target. The shares have re-rated, but “significant upside would be released” if CRH makes North America its only residence, the analyst tells investors in a research note. The firm says the company already generates 75% of its EBITDA in North America, and having analyzed the U.S. state by state, it believes “the land of opportunity is so large that CRH should focus entirely on living the American Dream.”