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Investing.com - Bernstein SocGen Group raised its price target on CRH plc (NYSE:CRH) to $130.00 from $115.00 on Thursday, while maintaining an Outperform rating on the building materials company. The company, currently trading at $111.26 with a market capitalization of $74.7 billion, has established itself as a prominent player in the Construction Materials industry.
CRH shares experienced one of the strongest performances on its recent results day, rising nearly 10% after the company met consensus EBIT/DA expectations and raised guidance for adjusted EBITDA and EPS. The stock’s momentum continues its impressive trajectory, with a 31.9% return over the past year and currently trading near its 52-week high of $114.40.
The company’s positive outlook highlighted the strength of its portfolio and pricing power in adverse market conditions, which contributed to the outsized share price movement, according to Bernstein.
The research firm adjusted its forecast model, toning down organic growth expectations for fiscal year 2025, which is offset by higher projected inorganic growth, while also increasing margin expectations.
Despite the recent stock rally following results, Bernstein remains positive on CRH, citing continued confidence in the company’s performance outlook.
In other recent news, CRH has reported several significant developments. The company announced its agreement to acquire Eco Material Technologies for $2.1 billion, a move that is subject to regulatory approval and expected to close in 2025. This acquisition will be funded with cash on hand, and CRH does not foresee any impact on its credit ratings. In financial news, CRH completed a $0.3 billion share buyback and has launched a new buyback program worth up to $0.3 billion, set to run until November 5, 2025. Analysts have been active, with JPMorgan assuming coverage of CRH with an Overweight rating and raising its price target to $130. Meanwhile, DA Davidson increased its price target to $110, maintaining a Neutral rating, and noted CRH’s earnings per share growth of 3% and EBITDA growth of 9%. Additionally, CRH has elected Patrick Decker, former CEO of Xylem Inc., to its Board of Directors, effective October 1, 2025. These developments highlight CRH’s strategic moves and financial performance amid challenging conditions.
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