Morgan Stanley downgraded Cemex (CX) to Equal Weight from Overweight with a price target of $13, down from $14. The firm cites the uncertain macro backdrop and growing evidence of capex deceleration in Mexico for the downgrade. Cemex shares “might remain capped” by trade and cyclical risks, the analyst tells investors in a research note. As such, Morgan Stanley awaits more visibility and a better risk/reward profile.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CX:
- Cemex SAB (CX) Discloses Q1 Dividend: What Shareholders Should Know
- Cemex Announces Final Dividend Payment of USD $30 Million
- Cemex Reports Strong Financial Performance with $960 Million Net Income in 2024
- Cemex price target raised to $6 from $5 at RBC Capital
- Cemex Announces Senior Leadership Changes Amid CEO Transition
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue