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Investing.com - RBC Capital initiated coverage on Amrize Ltd (OTCBB:AMRZ) with an outperform rating and a price target of $61.00 on Tuesday.
The price target represents a potential 17% upside from current trading levels for the North American building materials company, which RBC describes as the largest cement producer in the region.
RBC Capital believes the North American cement market is "misunderstood" and "unfairly viewed as aggregates poorer cousin," according to its research note.
The firm argues that cement is as essential as aggregates in construction and building processes, highlighting this necessity as a key factor in its positive outlook for Amrize.
RBC expects the valuation gap between aggregates and cement companies to narrow, which forms part of the basis for its outperform rating on the building materials pure-play.
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