Barclays analyst Adam Seiden says he was "skeptical at first" after Reuters reported that Grupo Argos has an interest in Summit Materials. However, the analyst now sees the potential logic and believes the interest is "likely genuine." Cementos Argos is a small player in the U.S. market, at a low-single digit percent share, but it generates ~50% of its EBITDA in the U.S. and its other regions are either just starting to recover, or not at all, Seiden tells investors in a research note. He keeps an Equal Weight rating on Summit Materials with an $18 price target.