RBC Capital Lifts PT on Cemex S.A.B. de C.V. (CX) Post Fiscal Q1 Earnings

Cemex S.A.B. de C.V. (NYSE:CX) is one of the best cheap stocks to buy under $20. On April 24, RBC Capital lifted the price target on Cemex S.A.B. de C.V. (NYSE:CX) to $12.75 from $11.25 while reaffirming a Sector Perform rating on the shares. The firm told investors in a research note that management was cautiously optimistic on its fiscal Q1 earnings call in a backdrop featuring geopolitical uncertainty and volatility of fuel and energy costs, after the quarter delivered a healthy beat. It further stated that rating agencies are warming to Cemex S.A.B. de C.V. (NYSE:CX) as the group’s performance continues to improve.

The same day, JPMorgan also lifted the price target on Cemex S.A.B. de C.V. (NYSE:CX) to $14.50 from $14 and maintained an Overweight rating on the shares. The firm lifted its estimates to take into account the company’s “strong” fiscal Q1 report. However, it also told investors in a research note that Cemex’s (NYSE:CX) guidance was left unchanged despite the fiscal Q1 beat, as it pointed to a lack of visibility and added uncertainty regarding the ongoing conflict in Iran.

Cemex S.A.B. de C.V. (NYSE:CX) is a global construction materials company that offers ready-mix concrete, cement, aggregates, and urbanization solutions. Its operations are divided into the following geographical segments: Mexico, United States, Europe, Middle East, Africa and Asia (EMEAA) and South, Central America and the Caribbean (SCA&C).

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