Cemex Plans Further Deleveraging Via Asset Sales; Shares Undervalued
Cemex’s performance accelerated in the second quarter, with like-for-like revenue growth of 7% and like-for-like operating EBITDA growth of 4%. For the most part, all of Cemex’s regions saw improvement, with the exception of South, Central America, and the Caribbean, which continued to struggle amid declining cement volumes. Our outlook for the company remains largely unchanged, leading us to maintain our fair value estimate of $10 per share for narrow-moat Cemex. With shares currently trading a...
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