🤯 Picked by our AI, this stock rallied more than Nvidia this month, yielding 94% since MarchSee the stock

Citi bullish on CEMEX stock ahead of strategic CEMEX day insights

EditorEmilio Ghigini
Published 03/13/2024, 05:14 AM
© Reuters.
CX
-

On Wednesday, CEMEX (NYSE:CX), a global leader in the building materials industry, received reaffirmation from Citi on its stock rating and price target. The firm maintained a Buy rating on the company's shares, with a set price target of $9.00.

The focus of the analyst's comments centered around the anticipation of CEMEX Day, scheduled for March 20, where key messages are expected to be delivered by the company.

The upcoming CEMEX Day is anticipated to highlight the company's capital allocation strategy, with an emphasis on balancing growth opportunities and further debt reduction to align with industry standards, particularly aiming for a net-leverage ratio around 1.5 times. Additionally, there is an expectation of a formal announcement regarding dividend policy during the event.

Citi's analysis suggests that CEMEX will continue to prioritize developed markets over emerging markets, adhering to its long-term strategic direction. This approach is consistent with the company's historical focus and market positioning.

One of the pressing questions from the market that CEMEX may address is the potential spin-off of its United States operations. This speculation arises in the wake of similar moves by industry peers. CEMEX's strategy and response to this query are highly anticipated by investors and market watchers.

In summary, Citi's outlook on CEMEX remains positive, with the firm expecting the company to reveal significant strategic plans on CEMEX Day that could reinforce its market position and financial strategy moving forward. The maintained Buy rating and price target reflect Citi's confidence in CEMEX's potential to successfully navigate its industry landscape and deliver value to its shareholders.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.