Cementos Argos Raised at Morgan Stanley as Supply Concern Fades
Source: BFW (Bloomberg First Word)
Tickers
CEMARGOS CB (Cementos Argos SA)
CEMEXCPO MM (Cemex SAB de CV)
ELEMENT* MM (Elementia SAB de CV)
CLH CB (Cemex Latam Holdings SA)
People
Nikolaj Lippmann (Morgan Stanley)
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UUID: 7947283
(Bloomberg) -- Colombia’s Cementos Argos raised to equalweight from underweight as delays in new cement supply in Colombia eased oversupply concerns, Morgan Stanley analysts Nikolaj Lippman and Lillian Starke write in note.
Alert: HALISTER1- Cementos Argos has also addressed high cost structure, expects 10-15% cash-cost reduction between 2016 and 2018
- U.S. provides upside risk as that market will be biggest driver of Ebitda growth in next years, fueled by M&A
- Stock trades at premium to regional and European peers
- PT set at 12,000 pesos
- NOTE: Cementos Argos 2 buys, 11 holds and 5 sells; avg PT 11,735 pesos
- NOTE: Stock unchanged today due to holiday in Colombia; has gained 97% in 1 year vs 14% decline for Colcap index
- Morgan Stanley kept Cemex and Cemex Latam at equalweight, Elementia at overweight
Source: BFW (Bloomberg First Word)
Tickers
CEMARGOS CB (Cementos Argos SA)
CEMEXCPO MM (Cemex SAB de CV)
ELEMENT* MM (Elementia SAB de CV)
CLH CB (Cemex Latam Holdings SA)
People
Nikolaj Lippmann (Morgan Stanley)
To de-activate this alert, click here
UUID: 7947283