Cemex S.A.B. de C.V. (CX) Gets Downgraded to Sector Perform from Outperform by Scotiabank

Cemex S.A.B. de C.V. (NYSE:CX) is one of the best affordable stocks to buy under $20. Cemex S.A.B. de C.V. (NYSE:CX) was downgraded to Sector Perform from Outperform by Scotiabank on October 20. The firm, however, lifted the price target to $11.10 from $10.90.

The firm told investors that it believes Cemex S.A.B. de C.V.’s (NYSE:CX) shares are due for a “pause” after the year-to-date rally, and that it does not see any short-term catalysts that can support the company in sustaining the recent momentum.

Therefore, Scotiabank reasoned that since major short-term catalysts for Cemex S.A.B. de C.V. (NYSE:CX) are not available, investors should either “get ready for the next spring’s construction cycle” or wait for a price correction.

Cemex S.A.B. de C.V. (NYSE:CX) is a global construction materials company that offers ready-mix concrete, cement, aggregates, and urbanization solutions. Its operations are divided into the following geographical segments: Mexico, United States, Europe, Middle East, Africa and Asia (EMEAA) and South, Central America and the Caribbean (SCA&C).

While we acknowledge the potential of CX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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