CRH's NYSE Listing Shift Aims To Boost US Investor Appeal, Analyst Sees Potential Growth
Portfolio Pulse from Shivani Kumaresan
Truist Securities analyst Keith Hughes initiated coverage on CRH PLC (NYSE:CRH) with a Buy rating and a price target of $81. CRH's primary stock listing shift to the NYSE aims to attract U.S. investors, reflecting its significant EBITDA generation in the U.S. The analyst highlights the company's diverse business segments and potential for growth, with an emphasis on the Americas Building Solutions segment. CRH's EBITDA margin has grown significantly over the past decade, and the company is expected to continue its positive trajectory, although further work is needed to fully capitalize on the listing change and portfolio shift.

December 14, 2023 | 6:42 pm
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Truist Securities analyst Keith Hughes initiated coverage on CRH PLC with a Buy rating and a price target of $81, citing potential growth and a strategic shift to attract U.S. investors.
The initiation of coverage by an analyst with a Buy rating and a higher price target than the current trading price typically has a positive impact on the stock price in the short term. The strategic shift to the NYSE and the focus on U.S. investors are likely to be viewed positively by the market, potentially increasing investor interest and demand for the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100