JPMorgan raised the firm’s price target on Cemex (CX) to $14.50 from $14 and keeps an Overweight rating on the shares. The firm increased estimates to reflect the company’s “strong” Q1 report. However, Cemex’s guidance was left unchanged despite the Q1 beat as it pointed to a lack of visibility and added uncertainty regarding the ongoing conflict in Iran, the analyst tells investors in a research note.
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