RBC Capital analyst Anthony Codling initiates coverage on $Cemex (CX.US)$ with a hold rating, and sets the target price at $6.5.
According to TipRanks data, the analyst has a success rate of 67.6% and a total average return of 11.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Cemex (CX.US)$'s main analysts recently are as follows:
Expectations are set for Cemex to report a subdued quarter, with projections indicating a 14% decline in EBITDA year-over-year, amounting to $781M. This is alongside a forecasted margin contraction to 18.4%. The anticipated weaker performance is attributed to currency fluctuations and unfavorable weather conditions.
The recent period of share price underperformance has made Cemex appear more attractive in terms of risk/reward balance compared to earlier assessments. This new perspective follows improvements in credit ratings and the divestiture of assets. Nevertheless, the outcome of the U.S. election remains a factor influencing the company's share price, with the anticipation that a Republican victory might lead to decreased investment into Mexico.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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