Citi Downgrades Cemex to Hold, Reduces PT to $9.50

Citi downgraded its rating on Cemex (NYSE:

) from Buy to Hold. At the same time, the rating agency reduced its price target on the company's stock from $12.50 to $9.50. On Friday, CX closed the day at $7.50. Its shares lost 2% of their value in today's pre-market trading to stand around $7.35.