HeidelbergCement (HDELY) Upgraded to Buy by Zacks Investment Research
HeidelbergCement (OTCMKTS:HDELY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $24.00 target price on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.65% from the company’s current price.
According to Zacks, “HeidelbergCement AG operates as a building materials manufacturer. It engages in the production and distribution of cement and aggregates. The Company also offers ready-mixed concrete, concrete products, and concrete elements, as well as other related products and services. It has operations in sub-Saharan Africa: Benin, DR Congo, Gabon, Ghana, Liberia, Sierra Leone, Tanzania, and Togo. HeidelbergCement AG is headquartered in Heidelberg, Germany. “
Other analysts have also issued research reports about the company. Barclays upgraded HeidelbergCement from an “equal weight” rating to an “overweight” rating in a report on Thursday, September 7th. Jefferies Group began coverage on HeidelbergCement in a report on Wednesday, September 27th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. lowered HeidelbergCement from a “neutral” rating to an “underweight” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $24.00.
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HeidelbergCement AG produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide. Its cement products include special cements with targeted characteristics, special geotechnical building materials, and a range of binders. The company offers natural stone and crushed aggregates, including sand, gravel, stone chippings, and crushed stones; concrete/ready-mixed concrete that is used for the production of precast concrete parts, such as stairs, ceiling elements, or structural components, as well as for use in the construction of tunnels or bridges, office buildings, and schools; and asphalt, which is primarily used in the building of traffic infrastructure comprising roads, walkways, and parking lots.
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