RBC Capital analyst Anthony Codling raised the firm’s price target on Cemex (CX) to $12.75 from $11.25 and keeps a Sector Perform rating on the shares. The management was cautiously optimistic on its Q1 earnings call amid geopolitical uncertainty and volatility of fuel and energy costs after the quarter delivered a healthy beat, the analyst tells investors in a research note. Rating agencies are warming to Cemex as the Group’s performance continues to improve, the firm added.
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