Deutsche Bank Downgrades CRH plc (CRH) to Hold; Solid FY11, but Still Limited Visibility
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Price: $21.97 -0.68%
Rating Summary:
3 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
3 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade CRH Now!
Deutsche Bank downgraded CRH plc (NYSE: CRH) from Buy to Hold.
Deutsche analyst said, "From the lows in September last year, CRH has registered an absolute performance of +51%, +15% relative to the sector. This has been driven by earnings multiple expansion, which was triggered at the end of last year by an increasingly positive sentiment on the company’s key market, the US. With the stock back at peak EV/EBITDA levels, further share price performance would require material earnings upgrades. Given the lack of macro support for such revisions, we downgrade the stock."
For an analyst ratings summary and ratings history on CRH plc click here. For more ratings news on CRH plc click here.
Shares of CRH plc closed at $21.28 yesterday, with a 52 week range of $14.17-$25.03.
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Deutsche analyst said, "From the lows in September last year, CRH has registered an absolute performance of +51%, +15% relative to the sector. This has been driven by earnings multiple expansion, which was triggered at the end of last year by an increasingly positive sentiment on the company’s key market, the US. With the stock back at peak EV/EBITDA levels, further share price performance would require material earnings upgrades. Given the lack of macro support for such revisions, we downgrade the stock."
For an analyst ratings summary and ratings history on CRH plc click here. For more ratings news on CRH plc click here.
Shares of CRH plc closed at $21.28 yesterday, with a 52 week range of $14.17-$25.03.
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