Truist initiated coverage of Amrize (AMRZ) with a Buy rating and $60 price target The North America materials/products business spin from Holcim (HCMLY) was under pressure after its first day of trading, in the firm’s view due to forced selling due to geographic mandates and unfamiliarity of U.S. investors with the business and numbers for the year. However, Amrize benefits from less presence of low margin downstream businesses, domestic only sales and a highly valued Building Products business, argues the analyst, who views the shares as undervalued on a sum-of-the-parts basis.
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Read More on HCMLY:
- Holcim upgraded to Buy from Neutral at BofA
- Holcim resumed with an Overweight at JPMorgan
- Holcim upgraded to Overweight from Equal Weight at Morgan Stanley
- Holcim: A Buy Rating Backed by Strong Cash Generation, Decarbonization Leadership, and Strategic Growth Opportunities
- Holcim price target raised to CHF 99 from CHF 95 at RBC Capital