Amrize initiated with an Outperform at RBC Capital

RBC Capital initiated coverage of Amrize (AMRZ) with an Outperform rating and $61 price target Amrize is the biggest North American building materials pure-play and its largest cement producer, the analyst tells investors in a research note. The firm believes the North American cement market is “misunderstood, unfairly viewed as aggregates poorer cousin.” RBC says “you need cement just as much as you need aggregates and that the aggregates:cement valuation gap should narrow.”