Cemex price target raised to $6 from $5 at RBC Capital

RBC Capital raised the firm’s price target on Cemex (CX) to $6 from $5 but keeps an Underperform rating on the shares. The stock has re-rated materially following the announcement of a self-help program, similar to Heidelberg’s announcement at Q3 which was taken positively as well as the clarifying comments given on tariffs, the analyst tells investors in a research note. RBC adds however that Cemex’s valuation will continue to face a risk premium from uncertainty around Mexico’s outlook.