(MENAFN- ProactiveInvestors) Appropriately in a review of building materials suppliers Deutsche Bank is sitting on the fence with its ratings for CRH SIG and ().
With some of the strongest exposure to the US and significant oil price based raw materials and energy costs the German bank believes CRH () will see significantly more investor interest in 2015.
It sticks with its 'hold' rating however while fine turning its price target to 1500p as it waits for the Irish company’s large scale portfolio shake-up to complete.
Deutsche is also neutral on SIG () as it expects benefits from a recovery in the UK & Ireland will be offset by continued difficult macro environments in mainland Europe. The price target remains at 152p.
() is tipped to grow faster than the market as a whole but increasing sales density and putting some zip in the sales performance of Wickes and the Plumbing & Heating business will require additional investment which will constrain operational leverage.
The price target stays at 1880p.
has reiterated its eye-popping 60p price target for () – the shares are currently trading at 11.4p – after the explorer announced what the broker called “the best result to date” from its Moroccan drilling campaign.
“We continue to see value in Circle with the shares trading at a deep discount (more than 60%) to discovered barrels. We also flag that Circle’s RENAV [risk exploration net asset value] as the least sensitive in our coverage to oil price fluctuations” said.
The completion of two more hotels in the Middle East emphasises the growth potential of () broker finnCap reckons.
It has a target price of 110p versus a current share price of 65p and believes the shares are an excellent play on the structural undersupply of branded economy hotels in the Middle East.
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