Amrize initiated with a Neutral at BofA

BofA analyst Arnaud Lehmann initiated coverage of Amrize (AMRZ) with a Neutral rating and $56 price target While the firm sees strong industry and company fundamentals in the group’s core products of cement, aggregates and commercial roofing and also sees significant M&A optionality, this is offset by short term U.S. volume uncertainties and what it views as a “fair valuation,” the analyst tells investors.