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Investing.com - RBC Capital lowered its price target on Amrize Ltd (NYSE:AMRZ) to $54.00 from $61.00 on Friday, while maintaining an Outperform rating on the stock. The stock currently trades at $46.72, having declined 8.55% in the past week, according to InvestingPro data.
The price target reduction follows what RBC described as "share price weakness" that the firm believes "could have been avoided" if Amrize had been more proactive in its communications with investors.
According to RBC Capital, Amrize "passed on the opportunity to lead the narrative and to guide consensus" ahead of its second-quarter results and fiscal year 2025 estimates.
The investment bank noted that investors currently believe Amrize missed its Q2 guidance and reduced its FY2025 outlook, creating what RBC called a "’he said, she said’ situation."
Despite the price target cut, RBC maintained its Outperform rating, suggesting the current situation "may lead investors to miss out on an attractive entry point in the Amrize story."
In other recent news, Amrize has partnered with Meta (NASDAQ:META) to develop an AI-optimized concrete mix for Meta’s data center in Rosemount, Minnesota. This collaboration aims to deliver a high-strength concrete solution while reducing the carbon footprint by an estimated 35%. JPMorgan has initiated coverage on Amrize with an Overweight rating, highlighting the company’s structure, which includes Building Materials and Building Envelope segments. Bernstein also started coverage with an Outperform rating, emphasizing Amrize’s strong position in inland markets and its pricing power. Goldman Sachs initiated coverage with a Neutral rating, noting Amrize’s leading position in the North American cement market with a 23% revenue share. Furthermore, Berenberg has given Amrize a Buy rating, citing a robust mid-term profit outlook with projected average EBITDA growth of 8% per year. These recent developments reflect Amrize’s strategic positioning and growth prospects in the industry.
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