(CercleFinance.com) – The stock ends the session up nearly 2% after the announcement of the acquisition of Malarkey Roofing Products. Oddo maintains its ‘neutral’ recommendation on the Holcim share, with a target price of CHF 60.
The analysis office reports that LafargeHolcim has signed an agreement to acquire Malarkey Roofing Products, a US roofing solutions company targeting 2022 revenue of $ 600 million and EBITDA of $ 120 million.
‘The price comes out at $ 1.35 billion for an amount of synergies estimated at $ 40 million over 3 years,’ says Oddo, who considers that this acquisition is fully in line with LafargeHolcim’s ‘accelerating green growth’ 2025 strategy.
The analyst believes that the market should welcome this new acquisition and that ‘the group could carry out a new portfolio rotation in 2022’.
The ‘neutral’ opinion remains however maintained because of the weight of the CO2 issue, concludes the broker.
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