Cementos Argos upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Cementos Argos (CMTOY) to Overweight from Neutral with a COP 11,000 price target Argos will receive $2.87B from the sale of Summit Materials to Quikrete Holdings, which is equivalent to COP 9,672 for each share of Argos, the analyst tells investors in a research note. The firm says the company is likely to look for opportunities in the U.S., where it can create value for shareholders as it did with this transaction.