Amrize initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Cedar Ekblom initiated coverage of Amrize (AMRZ) with an Overweight rating and $62 price target Amrize is a 100% North American building Materials business, with revenue exposure to cement and concrete, the analyst tells investors in a research note. The firm says the management team has a long track record of successfully delivering on roll-up growth. Amrize’s leading position in cement in North America creates a “cash cow,” contends Morgan Stanley.