Merrill Lynch downgrades Lafarge
First publishedon www.AggBusiness.com
Despite growth in recent sales figures, Bank of America Merrill Lynch has downgraded its status for Lafarge from neutral to underperformance. The bank has also reduced its share price target for the business from €53 to €42.
The bank has said that the status has been changed as it expects Lafarge to face difficulties in the Middle East and Africa and anticipates Holcim’s performance to be better in the medium term due to a greater presence in the Asia-Pacific region.