CRH price target lowered to $131 from $134 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on CRH (CRH) to $131 from $134 and keeps an Overweight rating on the shares. Q3 was in line with the firm’s expectations, and guidance was tweaked higher with estimates already at the top end, the analyst tells investors in a research note. The firm noted that its base and bear cases were revised down by 1%-2%, while its bull case is lowered by 4%, primarily due to peer multiple compression.