CRH initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Cedar Ekblom initiated coverage of CRH (CRH) with an Overweight rating and 80 GBp price target CRH’s integrated model means higher cash conversion and better returns than its upstream pure play peers, the analyst tells investors in a research note. The firm says despite this, the stock is priced at a 32% discount. It recommends buying CRH on the recent pullback. Morgan Stanley names CRH a new top pick.