Morgan Stanley Remains Bullish on Cemex Following Company Analyst Day

In a report published Friday, Morgan Stanley analyst Nikolaj Lippmann reiterated an Overweight rating and $14.00 price target on Cemex CX. In the report, Morgan Stanley noted, “Cemex management remains confident about the EBITDA recovery it outlined in 2013, but is pushing out its guidance slightly. (From 2016 to around 2017). We too remain both constructive and slightly more conservative than CX management – as was the case in earlier years. Cemex is well positioned for growth over the next years and the shape and timing might not matter much yet. We are not changing estimates for Cemex and remain OW with a US$14 PT.” Cemex closed on Friday at $12.87.