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Amrize initiated with a Buy at Truist

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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