Amrize price target raised to $65 from $62 at Bernstein

Bernstein raised the firm’s price target on Amrize (AMRZ) to $65 from $62 and keeps an Outperform rating on the shares. The firm has turned more positive on the building materials space following the Q2 reports and shifted its heavy side top pick to Amrize for the rest of the year. Amrize shares have unperformed its heavy side peers since the spinout on June 23, the analyst tells investors in a research note. Bernstein says the underperformance combined with Amrize’s “attractive portfolio” increases its conviction on the stock. The company’s “dominant” cement position and exposure to strong inland markets gives it superior pricing power and margins. according to Bernstein.