CRH downgraded to Neutral from Buy at DA Davidson

DA Davidson downgraded CRH (CRH) to Neutral from Buy with a price target of $105, down from $120. The firm sees moderating growth rates as likely limiting further material re-rating potential over the near-term, though M&A and buybacks remain tools which CRH should be expected to utilize, the analyst tells investors in a research note. DA Davidson still likes the story and U.S. leverage, but is moving to the sidelines for now as current demand drivers may limit core growth.