Scotiabank Maintains Sector Outperform on Cemex, Lowers Price Target to $8.9
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Francisco Suarez maintains a Sector Outperform rating on Cemex (NYSE:CX) but lowers the price target from $10 to $8.9.
October 29, 2024 | 2:53 pm
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Scotiabank has maintained its Sector Outperform rating for Cemex but has lowered the price target from $10 to $8.9, indicating a more cautious outlook.
The maintenance of a Sector Outperform rating suggests continued confidence in Cemex's performance relative to its sector. However, the lowered price target from $10 to $8.9 indicates a more cautious outlook on its stock price, likely due to market conditions or company-specific factors. This could lead to a short-term negative impact on the stock price as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100