Amrize initiated with a Hold at Jefferies

Jefferies initiated coverage of Amrize (AMRZ) with a Hold rating and $52.50 price target The firm says changing global asset allocation may limit the appetite for Amrize among its European investor base. In addition, the risk of not being included in U.S. indexes may constrain its “airplay” to U.S. investors, the analyst tells investors in a research note. While Amrize “can be argued is inexpensive” relative to its U.S. peers, with an investment case that leans heavily on acquisitions, investors may wait for evidence of the company transacting and integrating deals before considering the stock, contends Jefferies.