Cemex price target lowered to $7 from $8 at JPMorgan

JPMorgan lowered the firm’s price target on Cemex to $7 from $8 and keeps an Overweight rating on the shares as part of a Q3 earnings preview. The firm expects another weak quarter from Cemex, with EBITDA down 14% year-over-year to $781M on a 1.5 point margin contraction to 18.4%. The analyst cites currency and bad weather for the weak quarter.