CRH to benefit from Democrat majority in US Senate, says SocGen
Updated : 12:22
Societe Generale upgraded its rating on shares of CRH on Thursday to ‘buy’ from ‘hold’ as it said the building materials group is set to benefit from a Democratic majority in the US Senate.
The bank said it was lifting its long-term EBIT margin forecast from 11.1% to 12.2%, "reflecting the upside potential offered by a large US infrastructure plan".
Including an estimated 12-month dividend per share of 68.5p, projected 12-month total shareholder return is 26.6%, SocGen said, "which warrants an upgrade to buy".
At 1220 GMT, CRH shares were up 2% at 3,448p.