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CX

Cemex

$5.62

0.13 (2.37%)

04:55
11/07/18
11/07
04:55
11/07/18
04:55

Cemex management to meet with JPMorgan

Meetings to be held in San Disco on November 6 and in San Francisco on November 7 hosted by JPMorgan.

  • 07

    Nov

CX Cemex
$5.62

0.13 (2.37%)

08/16/18
08/16/18
DOWNGRADE
Target $9

Hold
Cemex downgraded to Hold at HSBC
As previously reported, HSBC downgraded Cemex to Hold from Buy and lowered its price target to $7.70 from $9. Analyst Eduardo Altamirano said Cemex's deleveraging remains intact, but the pace at which debt is converted to equity is slowing down due to weaker than expected pricing and volumes in most regions, combined with higher input costs. Altamirano now sees near-term free cash flow equal for both equity and debt holders, limiting upside for equity holders.
08/16/18
08/16/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) downgraded to Hold from Buy at Jefferies with analyst Ian Hilliker citing valuation following the stock's outperformance since he upgraded it in March. 2. Cemex (CX) downgraded to Hold from Buy at HSBC with analyst Eduardo Altamirano saying Cemex's deleveraging remains intact, but the pace at which debt is converted to equity is slowing down due to weaker than expected pricing and volumes in most regions, combined with higher input costs. 3. Cenovus Energy (CVE) downgraded to Hold from Buy at Canaccord with analyst Dennis Fong saying cash flow valuation is in line versus the large-cap group, which he thinks is appropriate given the company's above-average heavy oil exposure, moderated production growth profile, and higher leverage. 4. Nanometrics (NANO) downgraded to Neutral from Buy at DA Davidson with analyst Thomas Diffely saying that after outperforming its peer group over the past few years, the stock now trades at a 40% premium to its peers. 5. Coty (COTY) downgraded to Underperform from Buy at BofA/Merrill with analyst Olivia Tong citing inconsistent execution and increasing disruption across the mass beauty segment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/04/18
SBSH
09/04/18
NO CHANGE
Target $9.5
SBSH
Buy
Cemex worth $15 per share on asset-based valuation, says Citi
Citi analyst Dan McGoey, while continuing to favor a cash flow valuation analysis, says an asset-based valuation points to shares of Cemex being worth $15. The analyst estimates the gross value of Cemex's cement operations at $26B, the concrete division at $4B, Aggregates division at $1.7B, land and marine distribution terminals at $2B and its equity investments at $700M. The stock remains attractively valued under traditional multiples as well, McGoey tells investors in a research note. He keeps a Buy rating on Cemex with a price target of $9.50.
10/29/18
SCOT
10/29/18
DOWNGRADE
SCOT
Sector Perform
Cemex downgraded to Sector Perform from Outperform at Scotiabank

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