Goldman Sachs upgraded Holcim (HCMLY) to Buy from Neutral with a price target of CHF 82, up from CHF 77. The EU’s EUR 30B in ‘investment booster’ funding tied to industry decarbonization has the potential to improve the returns of Holcim’s pipeline of CCUS projects, the analyst tells investors in a research note. Greater clarity that the ETS system will be continuing in broadly its current form is also largely removing left tail risk in the equity story, the firm added.
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