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Investing.com - BofA Securities upgraded Holcim Ltd (SIX:HOLN) from neutral to buy on Tuesday, while revising its price target to CHF66.00 from CHF95.00 following the company’s Amrize spin-off.
The research firm cited Holcim’s majority European exposure as a key factor in the upgrade, noting this positioning offers cyclical upside potential in the construction materials sector.
BofA Securities highlighted Holcim’s leading strategy on decarbonization as another fundamental strength supporting the rating change.
The firm pointed to Holcim’s significant capital allocation flexibility for mergers, acquisitions and share buybacks, supported by what it described as a strong balance sheet, free cash flow generation and asset rotation capabilities.
BofA Securities also emphasized Holcim’s attractive valuation as a factor in its investment thesis, with the revised price target of CHF66.00 representing the equivalent of US$16.00 for the company’s American Depositary Receipts.
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