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Fly News Breaks for December 19, 2019
CX
Dec 19, 2019 | 08:18 EDT
Loop Capital analyst Garik Shmois initiated coverage of Cemex with a Hold rating and $4 price target. The analyst notes that the "light at the end of the tunnel" is not yet clear for the company, whose prospects have been tied to the "weaker" Mexican economic fundamentals and currency headwinds in spite of its "diverse" geographic mix. With Cemex also stuck in a "seemingly never-ending cycle of cost reduction and new divestment plans", Shmois remains cautious on the stock pending improved visibility on earnings recovery.
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