We’re Slightly Lowering CRH’s FVE After Re-Evaluating Several Assumptions
We’ve revisited a handful of our forecast assumptions, particularly surrounding the pending acquisition of Ash Grove. As a result, we’re lowering our fair value estimates to USD 38 per share and GBX 2,800 per share, down from USD 41 and GBX 2,900, respectively. The decline in the U.S. dollar-denominated shares is larger in magnitude because of a stronger U.S. dollar relative to the euro since our last update. CRH’s no-moat rating remains unchanged at this time. Even before the reduction in fair ...
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