JPMorgan analyst Elodie Rall upgraded Holcim (HCMLY) to Overweight from Neutral with a price target of CHF 108, up from CHF 81. The firm sees further upside in European cement despite the recent bounce following Trump’s victory, citing valuations that are largely supportive across the sector, tailwinds from already-enacted stimulus in the U.S., improving industry fundamentals and potential upside to current consensus expectations for next year.
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