Cemex downgraded to Underperform from Sector Perform at RBC Capital

RBC Capital downgraded Cemex (CX) to Underperform from Sector Perform with a price target of $5, down from $6, following the election of Donald Trump as President of the United States. Near shoring opportunities “may not be as plentiful as they once were” and animosity between trading partners, even if only one-sided, “is never great as it takes two to trade and tango,” and Cemex’s currency exposure adds more risk, the analyst tells investors in a research note.