BofA Securities Lifts CEMEX, S.A.B. de C.V. (CX) Price Target on Capital Return Plans

CEMEX, S.A.B. de C.V. (NYSE:CX) is one of the best cement stocks to buy according to analysts. On September 3, analysts at BofA Securities reiterated a ‘Neutral’ rating on the stock and lifted the price target to $10 and $8.60. The price target hike underscores BofA’s updated discounted cash flow analysis based on 2026 projections.

The price target hike comes as Cemex outperforms cement stocks over the past six months, given the 53% spike. The outperformance stems from the company’s pursuit of aggressive cost-saving programs and its focus on generating free cash flow. The appointment of a new CEO has also helped strengthen its market sentiment.

The new CEO has reiterated plans to focus on improving the company’s return on invested capital. Plans are underway to deploy $2 billion in disciplined mergers and acquisitions in pursuit of new growth opportunities.

CEMEX, S.A.B. de C.V. (NYSE:CX) is a global company that produces and distributes building materials, primarily cement, ready-mix concrete, and aggregates. The company aims to build a better future by providing innovative and sustainable building solutions, with a focus on carbon neutrality, circularity, and natural resource management.

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Disclosure: None. This article is originally published at Insider Monkey.