Price targets

Analyst ratings

5 analysts rated this company in the past 90 days. The average target price is €219.80, this is a change of +16.3% compared to the current price.

• September 29, 2025

  UBS maintains Heidelberg Materials at 'Neutral' - Target 188 euros

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS has maintained a "neutral" rating on Heidelberg Materials with a price target of €188. In his outlook on the quarterly figures released on Monday, Marcus Cole noted a slowing business momentum. The key question for the building materials manufacturer is whether the share is on track or already at its destination, or whether a paradigm shift toward pricing power, decarbonization gains, and improved supply-demand ratios in Europe is currently taking place. However, there are also risks due to structurally higher CO2 prices, the high comparison base from the previous year for the US business figures, and the already strong share price increase./rob/gl/he

  Publication of the original study: September 29, 2025 / 1:51 p.m. / GMT. First distribution of the original study: September 29, 2025 / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 29, 2025

  JPMorgan lowers target for Heidelberg Materials - 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan lowered its price target for Heidelberg Materials from €235 to €231 ahead of quarterly results, but maintained its "Overweight" rating. Comparable growth in operating profit (EBITDA) is expected to be 3 percent in the third quarter, Elodie Rall wrote in an outlook released Monday. It slightly lowered its earnings forecasts (adjusted EPS) for 2025 and 2026./rob/edh/tih

  Publication of the original study: September 29, 2025 / 12:12 PM / BST

  First distribution of the original study: September 29, 2025 / 12:12 PM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 23, 2025

  Berenberg maintains Heidelberg Materials' 'Buy' rating - target EUR 220

  HAMBURG (dpa-AFX Analyst) - Private bank Berenberg has maintained its "Buy" rating for Heidelberg Materials with a price target of €220. Business in Europe is quite good, but the hoped-for recovery in volumes in the second half of the year has not materialized, wrote Harry Goad after the second day of the Berenberg conference on Tuesday. However, management remains optimistic about the impetus provided by the German investment program./ag/mne

  Publication of the original study: September 23, 2025 / 11:22 AM / GMT

  First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 16, 2025

  RBC maintains Heidelberg Materials' 'Outperform' rating - target €220

  NEW YORK (dpa-AFX Analyst) - Following several investor events at the RBC Industrials Conference, Canadian bank RBC maintained its rating for Heidelberg Materials at "Outperform" with a price target of €220. In a study published Wednesday, Anthony Codling examined the five major demand waves in Europe: infrastructure development, defense spending, energy transition, housing shortages, and digitalization and data centers. The building materials group painted a mixed picture in Europe, with some regions such as Germany and Italy seeing improvements, while markets in Great Britain and France remained weak./rob/edh/zb

  Publication of the original study: September 16, 2025 / 6:06 p.m. / EDT

  First distribution of the original study: September 16, 2025 / 6:06 p.m. / EDT

  Note: Information on the disclosure obligation for conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 10, 2025

  JPMorgan raises target for Heidelberg Materials - Remains favorite

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has raised its price target for Heidelberg Materials from €217 to €235 and maintained its rating at "Overweight." The stock also remains a favorite of analyst Elodie Rall in the European building materials sector and remains on the "Analyst Focus List." Rall maintains her preference for manufacturers of "heavy building materials" such as cement and continues to expect them to outperform providers of "light building materials." With its new production facility in Brevik, Norway, the Heidelberg-based company is the first in the industry to offer a cement (CCS) with a particularly low carbon footprint./ag/tih

  Publication of the original study: September 10, 2025 / 9:36 PM / BST

  First distribution of the original study: September 11, 2025 / 12:15 AM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 8, 2025

  Berenberg maintains Heidelberg Materials' 'Buy' rating - target EUR 220

  HAMBURG (dpa-AFX Analyst) - Private bank Berenberg has maintained its "Buy" rating for Heidelberg Materials with a price target of €220. In a study released Tuesday, Harry Goad expressed the expectation that European construction volume will see some growth again in 2026 after three years of decline. He cited low comparable figures from the previous year and the economic backdrop as drivers, potentially supplemented by the German financial package and a possible reconstruction of Ukraine. The outlook for the coming year is also favorable for European building materials companies./tih/bek

  Publication of the original study: September 8, 2025 / 4:01 p.m. / GMT

  First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 4, 2025

  Goldman starts Heidelberg Materials with 'Buy' - target 240 euros

  NEW YORK (dpa-AFX Analyst) - US investment bank Goldman Sachs has initiated its "buy" rating on Heidelberg Materials shares, with a price target of €240. The supply and demand situation in the European building materials industry has changed, wrote new analyst Ben Rada Martin on Thursday. Supply is becoming tighter, and margins are tightening with more rational pricing. Furthermore, the outlook for demand has brightened. The expert expects Heidelberg Materials to achieve an average annual operating profit increase of 6 percent by 2030./ag/gl

  Publication of the original study: September 4, 2025 / 12:32 AM / BST. First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 3, 2025

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - Following discussions with CEO Dominik Von Achten at an in-house industry conference, US bank JPMorgan has maintained Heidelberg Materials' "Overweight" rating with a price target of €217. Elodie Rall wrote in her assessment released Thursday that the stock is now its favorite among companies focused on traditional building materials. It should benefit most from the improving fundamental business and pricing conditions./rob/gl/ag

  Publication of the original study: September 3, 2025 / 7:19 PM / BST First distribution of the original study: September 4, 2025 / 12:15 AM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• August 1, 2025

  JPMorgan lowers target for Heidelberg Materials - 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan lowered its price target for Heidelberg Materials from €220 to €217 following second-quarter figures, but maintained its rating at "Overweight." While management believes the worst is over with regard to sales development, the timing of a real improvement is difficult to predict, wrote Elodie Rall in a study released Monday. It slightly lowered its earnings expectations for 2025, but sees sufficient upside potential for an overweight vote./rob/mis/zb

  Publication of the original study: August 1, 2025 / 7:41 PM / BST

  First distribution of the original study: August 4, 2025 / 12:15 AM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• July 31, 2025

  Berenberg raises target for Heidelberg Materials to 220 euros - 'Buy'

  HAMBURG (dpa-AFX Analyst) - Private bank Berenberg has raised its price target for Heidelberg Materials from €205 to €220 and maintained its "Buy" rating. Although conditions in the sales markets remain unfavorable, the building materials group has used its pricing power and prudent acquisitions to further increase operating profit, Harry Goad wrote in a study released Friday. The new price target reflects the increased weighting of the 2026 forecasts in its valuation model as well as the increased industry valuation./rob/edh/nas

  Publication of the original study: July 31, 2025 / 4:02 PM / GMT

  First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• July 31, 2025

  RBC raises target for Heidelberg Mat. to €220 - 'Outperform'

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC raised its price target for Heidelberg Materials from €201 to €220 following second-quarter results and maintained its rating at "Outperform." The building materials manufacturer more than offset the impact of costs with the prices achieved in all regions, wrote Anthony Codling in a study released Thursday./rob/bek/he

  Publication of the original study: July 31, 2025 / 10:52 a.m. / EDT First distribution of the original study: July 31, 2025 / 10:52 a.m. / EDT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• July 31, 2025

  RBC maintains Heidelberg Materials at 'Outperform' - Target 201 euros

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC has maintained its rating for Heidelberg Materials at "Outperform" following its quarterly results, with a price target of €201. The building materials group's results were slightly better than expected, wrote Anthony Codling in an initial response released Thursday./rob/edh/la

  Publication of the original study: July 31, 2025 / 1:56 a.m. / EDT

  First distribution of the original study: July 31, 2025 / 1:56 a.m. / EDT

  Note: Information on the disclosure obligation for conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• July 31, 2025

  UBS maintains Heidelberg Materials at 'Neutral' - Target 188 euros

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS has maintained its rating for Heidelberg Materials at "Neutral" following its quarterly results, with a price target of €188. The building materials group's operating result (EBIT) marginally exceeded the consensus estimate, wrote Marcus Cole in an initial reaction released Thursday./rob/edh/ajx

  Publication of the original study: July 31, 2025 / 5:54 a.m. / GMT

  First distribution of the original study: July 31, 2025 / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• July 31, 2025

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - The US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of 220 euros following quarterly figures. The building materials group's sales were slightly weaker than market expectations, while its operating result (EBIDA) was somewhat stronger, wrote Elodie Rall in an initial response released Thursday./rob/edh/la

  Publication of the original study: July 31, 2025 / 6:38 a.m. / BST

  First distribution of the original study: July 31, 2025 / 6:38 a.m. / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• July 14, 2025

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of €220. Analyst Elodie Rall is particularly optimistic about CRH, Holcim, and Saint Gobain heading into the reporting season for European building materials companies. According to her outlook released on Tuesday, she is rather skeptical about Kingspan, Sika, and Geberit. At Heidelberg, it expects a year-on-year increase in operating profit (EBITDA) of 3 percent to €1.357 billion on a comparable basis./ag/ck

  Publication of the original study: July 14, 2025 / 11:42 PM / BST

  First distribution of the original study: July 15, 2025 / 12:15 AM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• July 3, 2025

  RBC lowers target for Heidelberg Materials - 'Outperform'

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC lowered its price target for Heidelberg Materials from €206 to €201, but maintained its rating at "outperform." Anthony Codling lowered his earnings (EPS) forecasts for the European building materials group this year, reflecting his updated exchange rate assumptions and organic growth trends. He wrote in his sector review published Friday that there were headwinds in the second quarter from currency and weather conditions. Holcim's sales are likely to have suffered the most from exchange rate developments, followed by Sika, Saint-Gobain, and Heidelberg Materials. However, Codling does not expect any outlook cuts in the context of the upcoming quarterly results releases./gl/ag

  Publication of the original study: July 3, 2025 / 2:24 p.m. / EDT First distribution of the original study: July 3, 2025 / 2:24 p.m. / EDT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• June 25, 2025

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" ahead of its quarterly results, with a price target of €220. The building materials group is expected to report adjusted earnings (EBITDA) growth of 3 percent, Elodie Rall wrote in an outlook published on Wednesday./rob/edh/mis

  Publication of the original study: June 25, 2025 / 2:40 p.m. / BST

  First distribution of the original study: June 25, 2025 / 2:40 p.m. / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• June 25, 2025

  UBS raises target for Heidelberg Materials to 188 euros - 'Neutral'

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS raised its price target for Heidelberg Materials from EUR 168 to EUR 188 ahead of quarterly results, but left the rating at "Neutral." Sales are expected to have increased by 5.8 percent, Marcus Cole wrote in an outlook released Wednesday. He expects the building materials group's operating result (EBITDA) to be 5.5 percent higher than the previous year./rob/edh/mis

  Publication of the original study: June 25, 2025 / 12:51 PM / GMT

  First distribution of the original study: June 25, 2025 / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 29, 2025

  Berenberg maintains Heidelberg Materials' 'Buy' rating - target 205 euros

  HAMBURG (dpa-AFX Analyst) - Private bank Berenberg has maintained its rating for Heidelberg Materials at "Buy" after its recent capital markets day, with a price target of €205. Harry Goad described the building materials group's event as an "impressive update" in his commentary published on Friday. The financial targets set for 2030 underpinned a strong performance./rob/mis/ag

  Publication of the original study: May 29, 2025 / 4:28 PM / GMT

  First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 28, 2025

  UBS maintains Heidelberg Materials at 'Neutral' - Target 168 euros

  ZURICH (dpa-AFX Analyst) - Following a capital markets day for the building materials group, Swiss bank UBS maintained its rating for Heidelberg Materials at "Neutral" with a price target of EUR 168. The operating profit (EBIT) target until 2030 is roughly in line with that of competitors, wrote Marcus Cole in a study published Wednesday. In addition, the value is consistent with market expectations when adjusted for additional acquisitions./rob/la/he

  Publication of the original study: May 28, 2025 / 5:23 PM / GMT. First distribution of the original study: May 28, 2025 / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 28, 2025

  RBC maintains Heidelberg Materials at 'Outperform' - Target 206 euros

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC maintained its rating for Heidelberg Materials at "Outperform" with a price target of €206 after a capital markets day. The building materials manufacturer explained very well what sets it apart from its competitors, wrote Anthony Codling in a study released Wednesday. The Heidelberg-based company cited its global presence, commitment to decarbonization, and focus on technology./rob/la/he

  Publication of the original study: May 28, 2025 / 2:41 p.m. / EDT First distribution of the original study: May 28, 2025 / 2:41 p.m. / EDT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 28, 2025

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of €220 following the capital markets day. The targets presented by the building materials group offer a compelling long-term opportunity, Elodie Rall wrote on Wednesday after the event. In their opinion, the weaker price performance at the Investor Day is likely due to profit-taking after a very strong performance this year./rob/ajx/he

  Publication of the original study: May 28, 2025 / 2:10 PM / BST

  First distribution of the original study: May 28, 2025 / 2:10 PM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 20, 2025

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of €220. In an industry report released Wednesday, Elodie Rall summarized the recent reporting season in the building materials sector, in which figures averaged slightly above expectations. However, she also noted the limited significance of the first quarter for the full year. Heidelberg Materials remains on her "Analyst Focus List" in anticipation of the Capital Markets Day next week. However, she also has a positive assessment of Saint-Gobain./tih/ajx

  Publication of the original study: May 20, 2025 / 7:01 a.m. / BST First distribution of the original study: May 21, 2025 / 12:15 a.m. / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 9, 2025

  Berenberg raises target for Heidelberg Materials to 205 euros - 'Buy'

  HAMBURG (dpa-AFX Analyser) - The private bank Berenberg has raised its price target for Heidelberg Materials from 160 to 205 euros and left the rating at "Buy". In response to the building materials group's quarterly figures, Harry Goad wrote in a study released Monday that he has raised his earnings (EPS) forecasts for 2026 and 2027./rob/edh/tih

  Publication of the original study: May 9, 2025 / 4:13 PM / GMT

  First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 9, 2025

  JPMorgan raises target for Heidelberg Materials - 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has raised its price target for Heidelberg Materials from €200 to €220 and maintained its rating at "Overweight." The stock also remains on its "Analyst Focus List" and carries the particularly positive "Positive Catalyst Watch" label for the short term. According to her commentary published on Monday, Elodie Rall sees considerable room for improvement. The focus now is on the upcoming Capital Markets Day./rob/ag/mis

  Publication of the original study: May 9, 2025 / 8:31 PM / BST

  First distribution of the original study: May 12, 2025 / 12:15 AM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 8, 2025

  JPMorgan leaves Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of €200. Elodie Rall adjusted her estimates on Thursday evening in line with the quarterly report./rob/ag

  Publication of the original study: May 8, 2025 / 7:19 PM / BST

  First distribution of the original study: May 9, 2025 / 12:15 AM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 8, 2025

  RBC raises target for Heidelberg Materials - 'Outperform'

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC has raised its price target for Heidelberg Materials from €180 to €206 and maintained its "outperform" rating. In a study released Thursday, Anthony Codling raised his price target for the stock, citing the building materials manufacturer's relatively above-average business performance. He cited progress in the accelerated transformation and improved business prospects in Europe and some emerging markets.

  Publication of the original study: May 8, 2025 / 10:42 a.m. EDT. First distribution of the original study: May 8, 2025 / 10:42 a.m. EDT.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 8, 2025

  SH: JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of €200. Operating profit is 14 percent above consensus, Elodie Rall wrote on Thursday. Meanwhile, the annual targets have been confirmed./rob/ag

  Publication of the original study: May 8, 2025 / 6:40 a.m. / BST

  First distribution of the original study: May 8, 2025 / 6:40 a.m. / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 8, 2025

  UBS maintains Heidelberg Materials at 'Neutral' - Target 168 euros

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS has maintained its rating for Heidelberg Materials at "Neutral" with a price target of €168. Marcus Cole spoke of a solid first quarter on Thursday./rob/ag/ajx

  Publication of the original study: May 8, 2025 / 6:05 a.m. / GMT

  First distribution of the original study: May 8, 2025 / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• May 8, 2025

  RBC maintains Heidelberg Materials at 'Outperform' - Target 180 euros

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC has maintained its rating for Heidelberg Materials at "Outperform" with a price target of €180. Analyst Anthony Codling attested to a strong first quarter for the cement manufacturer. The company confirmed its outlook, according to a study released Thursday./rob/bek/ajx

  Publication of the original study: May 8, 2025 / 1:55 a.m. / EDT

  First distribution of the original study: May 8, 2025 / 1:55 a.m. / EDT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• April 23, 2025

  UBS lowers target for Heidelberg Materials to 168 euros - 'Neutral'

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS has lowered its price target for Heidelberg Materials from 173 to 168 euros and left the rating at "neutral." A generally weaker market and unfavorable weather conditions, especially in the US, characterized the construction industry's first quarter, analyst Marcus Cole wrote in an industry report released Thursday. However, this does not need to be extrapolated to the entire year./bek/edh

  Publication of the original study: April 23, 2025 / 7:14 PM / GMT

  First distribution of the original study: April 23, 2025 / 7:14 PM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• April 14, 2025

  RBC maintains Heidelberg Materials at 'Outperform' - Target 180 euros

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC has maintained its rating for Heidelberg Materials at "outperform" with a price target of €180. An economic slowdown is also weakening demand among construction companies, analyst Anthony Codling wrote in a sector study released Tuesday. However, one shouldn't paint too pessimistic a picture. In times of economic weakness, infrastructure spending often remained stable or even increased./bek/gl

  Publication of the original study: April 14, 2025 / 5:54 PM / EDT. First distribution of the original study: April 15, 2025 / 12:45 AM / EDT.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• April 11, 2025

  RBC raises target for Heidelberg Materials - 'Outperform'

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC raised its price target for Heidelberg Materials from €169 to €180 and maintained its rating at "outperform." Analyst Anthony Codling lowered his estimates for operating profit (EBITDA) through 2027. However, he believes the building materials group's shares will outperform the sector and views them as a "flight-to-European" story. He wrote this on Friday ahead of Heidelberg's quarterly report. The group also has ample financial capacity./ajx/he

  Publication of the original study: April 11, 2025 / 11:43 a.m. / EDT First distribution of the original study: April 11, 2025 / 11:43 a.m. / EDT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• April 9, 2025

  Jefferies maintains Heidelberg Materials at 'Buy' - target 200 euros

  NEW YORK (dpa-AFX Analyst) - Research firm Jefferies has maintained a "Buy" rating on Heidelberg Materials with a price target of €200. He doesn't predict a bottom yet, but currently sees the best opportunity in five years to buy structural winners, analyst Raj Jilka wrote in a study released Wednesday. He and his team surveyed over 60 industry research teams in Europe to identify 50 market leaders with lasting competitive advantages. These leaders are likely to navigate the high market volatility and generate above-average, risk-adjusted returns over the long term. Since Heidelberg Materials generates over 50 percent of its revenue in Europe, this geographical presence offers advantages. Potential recovery topics include German infrastructure, European housing construction, and the reconstruction of Ukraine./ck/he

  Publication of the original study: April 9, 2025 / 5:44 a.m. / ET. First distribution of the original study: April 9, 2025 / 6:00 a.m. / ET

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• March 27, 2025

  UBS raises target for Heidelberg Materials to 173 euros - 'Neutral'

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS raised its price target for Heidelberg Materials from €155 to €173 ahead of the company's quarterly results and maintained its rating at "Neutral." In a study released Thursday, analyst Gregor Kuglitsch expects a subdued start to the fiscal year for the building materials group. However, he also pointed out that the first quarter is a relatively unimportant part of the year. In his valuation model, he lowered the benchmarks for the North American business and raised them for the remaining regions. He particularly referred to the German infrastructure program.

  Publication of the original study: March 27, 2025 / 10:16 AM / GMT First distribution of the original study: March 27, 2025 / 10:16 AM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• March 26, 2025

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of €200 ahead of first-quarter results. Operating profit (EBITDA) is expected to have declined by five percent on a comparable basis, analyst Elodie Rall wrote in an outlook on Thursday. The building materials manufacturer was burdened by unfavorable weather conditions, especially in the USA./bek/la

  Publication of the original study: March 26, 2025 / 7:42 PM / GMT

  First distribution of the original study: March 27, 2025 / 12:15 AM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• March 10, 2025

  JPMorgan raises target for Heidelberg Materials - 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has raised its price target for Heidelberg Materials from €164 to €200 and maintained its rating at "Overweight." Shares of the European building materials group have now largely priced in the potential of the planned €500 billion German infrastructure fund, wrote analyst Elodie Rall in an industry commentary published Tuesday. In some cases, prices have also gone too far and have corrected somewhat. These plans still need to be approved and implemented. Rall continues to consider Heidelberg Materials and Saint-Gobain to be attractive companies compared to their peers. For competitors such as Sika and Geberit, the valuations appeared more demanding.

  Publication of the original study: March 10, 2025 / 8:42 PM / GMT. First distribution of the original study: March 11, 2025 / 12:15 AM / GMT.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 26, 2025

  UBS raises target for Heidelberg Materials to 155 euros - 'Neutral'

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS raised its price target for Heidelberg Materials from 128 to 155 euros, but maintained its rating at "neutral." Even after the share's recent recovery, the building materials manufacturer's opportunities and risks still appear balanced, especially given the strengthened sector valuation, analyst Gregor Kuglitsch wrote in a study released Thursday. He justified the new price target with a change in the valuation model.

  Publication of the original study: February 26, 2025 / 7:55 PM / GMT

  First distribution of the original study: February 26, 2025 / 7:55 PM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 26, 2025

  Deutsche Bank Research maintains Heidelberg Materials' 'Buy' rating

  FRANKFURT (dpa-AFX Analyst) - Deutsche Bank Research maintained its rating for Heidelberg Materials at "Buy" with a price target of €146 following the company's earnings release and subsequent conference call. The outlook is prudently formulated because it takes into account several uncertain factors, analyst Jon Bell wrote in a report released Wednesday. It's early in the year, two US acquisitions need to be completed, and inflationary pressures will likely erode cost savings. Furthermore, nothing has yet been incorporated for the factory project in Brevik, Norway./tih/ajx

  Publication of the original study: February 26, 2025 / Time not specified in the study / CET

  First distribution of the original study: February 26, 2025 / 8:00 a.m. / CET

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 25, 2025

  Barclays lets Heidelberg Materials go to 'Equal Weight'

  LONDON (dpa-AFX Analyst) - British investment bank Barclays has maintained its rating for Heidelberg Materials at "Equal Weight" with a price target of €135. The 2025 targets leave management room for positive surprises and increases, wrote analyst Tom Zhang on Tuesday morning after the interim report. However, they could initially cause disappointment./ag/gl

  Publication of the original study: February 25, 2025 / 7:18 a.m. / GMT First distribution of the original study: February 25, 2025 / 7:18 a.m. / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 25, 2025

  UBS maintains Heidelberg Materials at 'Neutral' - Target 128 euros

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS has maintained its rating for Heidelberg Materials at "Neutral" after the company's results, with a price target of €128. The cement company performed slightly above expectations in the fourth quarter, analyst Gregor Kuglitsch wrote in a study released Tuesday. However, the outlook for 2025 remains somewhat below expectations./tih/gl

  Publication of the original study: February 25, 2025 / 7:08 a.m. / GMT First distribution of the original study: February 25, 2025 / 7:08 a.m. / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 25, 2025

  RBC maintains Heidelberg Materials at 'Outperform' - Target 151 euros

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC has maintained its rating for Heidelberg Materials at "Outperform" after its annual results, with a price target of €151. Thanks to an operating result in the fourth quarter that exceeded expectations, the annual figures were also slightly above expectations, wrote analyst Anthony Codling in a study published Tuesday. However, headwinds are evident for 2025, with the EBIT target range averaging two percent below expectations. The cement company's optimism is primarily based on internal streamlining./tih/gl

  Publication of the original study: February 25, 2025 / 2:00 a.m. / EST. First distribution of the original study: February 25, 2025 / 2:00 a.m. / EST.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 25, 2025

  Berenberg raises target for Heidelberg Materials to 160 euros - 'Buy'

  HAMBURG (dpa-AFX Analyst) - Private bank Berenberg has raised its price target for Heidelberg Materials from €138 to €160 and maintained its rating at "Buy." Looking back over the past five years, the cement company has increased its operating result (EBITDA) by approximately five percent annually, while capital employed has shrunk by 6 percent during this time, analyst Harry Goad wrote in a study published Wednesday. Cash flow and return on capital were correspondingly higher. He made no material changes to his estimates. However, he adjusted his valuation model for the stock to reflect the increased industry valuation./tih/gl

  Publication of the original study: February 25, 2025 / 5:00 PM / GMT. First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 25, 2025

  RBC raises target for Heidelberg Materials to €169 - 'Outperform'

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC has raised its price target for Heidelberg Materials from €151 to €169 and maintained its rating at "outperform." Analyst Anthony Codling wrote in a report released Tuesday that the building materials manufacturer is overly cautious with its business forecasts for the current year. There is a prospect of higher forecasts from the company later in the year./bek/he

  Publication of the original study: February 25, 2025 / 1:46 PM / EST. First distribution of the original study: February 25, 2025 / 1:46 PM / EST.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 25, 2025

  JPMorgan downgrades Heidelberg Materials to 'Overweight' after figures

  NEW YORK (dpa-AFX Analyst) - Following the fourth-quarter results, US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of €151. Analyst Elodie Rall emphasized in an initial assessment released Tuesday that the analyst consensus for the cement company is already at the upper end of the target range stated for 2025. However, the consensus could now move slightly downward toward the middle of the range. However, the outlook certainly also reflects a cautious stance. She estimates that the current consensus remains relatively easy to achieve./tih/ajx

  Publication of the original study: February 25, 2025 / 6:55 a.m. / GMT

  First distribution of the original study: February 25, 2025 / 6:55 a.m. / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• February 24, 2025

  Goldman leaves Heidelberg Materials at 'Neutral' - Target 119 euros

  NEW YORK (dpa-AFX Analyst) - US investment bank Goldman Sachs has maintained its rating for Heidelberg Materials at "Neutral" with a price target of €119. The muted outlook for 2025 is below expectations and also weaker compared to its US peers, analyst Pierre de Fraguier wrote on Tuesday morning./ag/gl

  Publication of the original study: February 24, 2025 / 8:33 a.m. / CET First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• January 27, 2025

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - The US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of 151 euros. Recent trends show that business in Eastern Europe remains strong and volumes in the core markets of Western Europe have bottomed out, wrote analyst Elodie Rall on Monday evening after a meeting with CEO Dominik Von Achten./ajx/ag

  Publication of the original study: January 27, 2025 / 8:18 p.m. / GMT First distribution of the original study: January 28, 2025 / 12:15 a.m. / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• January 23, 2025

  Barclays lowers Heidelberg Materials to 'Equal Weight', target high

  LONDON (dpa-AFX Analyst) - British investment bank Barclays has raised its price target for Heidelberg Materials shares from €111 to €135, but has also downgraded it from "Overweight" to "Equal Weight." Following the share price rally in the fourth quarter of 2024, the risk-reward ratio is now quite reasonable, wrote Tom Zhang in his industry analysis published Thursday. He recommended Vicat as a new buy and continues to recommend Buzzi./ag/ck

  Publication of the original study: January 23, 2025 / 3:58 a.m. / GMT

  First distribution of the original study: January 23, 2025 / 4:03 a.m. / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• January 15, 2025

  UBS raises target for Heidelberg Materials to 128 euros - 'Neutral'

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS has raised its price target for Heidelberg Materials from 121 to 128 euros and maintained its rating at "neutral." His "top picks" for 2025 in the building materials sector are CRH, Buzzi, and Kingspan, wrote analyst Gregor Kuglitsch in a study published Thursday. Heidelberg Materials' shares offer opportunities, but it is uncertain whether further significant upside potential will emerge at the current price level./ck/nas

  Publication of the original study: January 15, 2025 / 9:40 PM / GMT

  First distribution of the original study: January 15, 2025 / 9:40 PM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• January 14, 2025

  RBC maintains Heidelberg Materials at 'Outperform' - Target 151 euros

  NEW YORK (dpa-AFX Analyst) - The Canadian bank RBC has maintained Heidelberg Materials' "Outperform" rating with a price target of 151 euros. There are hidden assets in the building materials group's important US business, wrote analyst Anthony Codling in an industry outlook for 2025 published on Tuesday. This will be accompanied by cost reductions, which should significantly increase operating profit./gl/ajx

  Publication of the original study: January 14, 2025 / 10:33 / EST. First distribution of the original study: January 14, 2025 / 10:33 / EST.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• January 9, 2025

  Berenberg maintains Heidelberg Materials at 'Buy' - target 138 euros

  HAMBURG (dpa-AFX Analyst) - Private bank Berenberg has maintained its "Buy" rating for Heidelberg Materials with a price target of €138. Analyst Harry Goad's forecast for operating profit (EBIT) in 2024 is at the upper end of the building materials group's target range. This implies growth of an average of 6 percent. In 2025, Goad expects Heidelberg's EBIT to increase by another 8 percent compared to the previous year. In his assessment published on Friday, Goad also maintains his long-term positive stance on the stock. Even after the significant price increase in 2024, the valuation still appears attractive. Goad counts Heidelberg Materials among its "Top Picks" in the sector for 2025./ajx/mis

  Publication of the original study: January 9, 2025 / 4:01 PM / GMT

  First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• December 12, 2024

  UBS maintains Heidelberg Materials at 'Neutral' - Target 121 euros

  ZURICH (dpa-AFX Analyser) - The Swiss major bank UBS has left its rating for Heidelberg Materials at "Neutral" with a price target of 121 euros after a meeting with company representatives. Analyst Gregor Kuglitsch wrote on Thursday evening that confidence for 2025 was palpable during discussions with CFO René Aldach and Investor Relations Manager Ozan Kacar./tih/ag

  Publication of the original study: December 12, 2024 / 5:57 PM / GMT

  First distribution of the original study: December 12, 2024 / 5:57 PM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• December 11, 2024

  RBC raises target for Heidelberg Materials to 151 euros - Outperform

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC raised its price target for Heidelberg Materials from €139 to €151 and maintained its rating at "Outperform." After a year marked by elections and inclement weather, analyst Anthony Codling is optimistic about the global building materials sector for 2025, wrote in an industry report released Wednesday. The coming year is likely to be at least politically quieter, as government infrastructure budgets are more predictable and interest rates are more likely to fall than rise. Heidelberg Materials' focus on reducing CO2 emissions and cutting costs is convincing./edh/bek

  Publication of the original study: December 11, 2024 / 12:20 AM / EST

  First distribution of the original study: December 11, 2024 / 12:45 AM / EST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• December 4, 2024

  JPMorgan raises target for Heidelberg Materials - the industry favorite

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan raised its price target for Heidelberg Materials from €150 to €151 and maintained its rating at "Overweight." Analyst Elodie Rall selected the Heidelberg-based company's shares as the top favorite in her industry outlook for 2025 published Thursday, alongside competitors Holcim and CRH, which are also viewed positively. She is also optimistic about the financial results for all three companies for the current year and previously designated them as "Positive Catalyst Watch" for particularly good price opportunities. Heidelberg Materials is also one of the investment bank's favorites overall, with a spot on the "Analyst Focus List."/ag/gl

  Publication of the original study: December 4, 2024 / 11:16 PM / GMT. First distribution of the original study: December 5, 2024 / 12:15 AM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 20, 2024

  Deutsche Bank raises target for Heidelberg Materials - 'Buy'

  FRANKFURT (dpa-AFX Analyst) - Deutsche Bank Research raised its price target for Heidelberg Materials from €116 to €137 in an outlook for the building materials sector for 2025. The rating was maintained at "Buy." In an industry report released Wednesday, analyst Jon Bell issued buy recommendations for Saint-Gobain and Buzzi Unicem, while maintaining their buy recommendations for Heidelberg Materials, CRH, and Holcim. Following the US elections, he believes political uncertainty should ease in the coming year. He anticipates a stable economic environment, even though still high interest rates are likely to delay new construction activity. Infrastructure investments in the US and Europe should benefit from economic stimulus programs./tih/ajx

  Publication of the original study: November 20, 2024 / Time not specified in the study / CET

  First distribution of the original study: November 20, 2024 / 7:55 a.m. / CET

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 19, 2024

  Goldman raises target for Heidelberg Materials - 'Neutral'

  NEW YORK (dpa-AFX Analyst) - US investment bank Goldman Sachs raised its price target for Heidelberg Materials from €109 to €119, but left its rating at "Neutral." Analyst Pierre de Fraguier raised his operating earnings forecasts through 2028 by an average of around three percent in his assessment released Wednesday./ag/ajx

  Publication of the original study: November 19, 2024 / 5:37 PM / CET

  First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 19, 2024

  JPMorgan puts Heidelberg Materials on 'Analyst Focus List'

  NEW YORK (dpa-AFX Analyst) - The US bank JPMorgan has included shares of Heidelberg Materials in its "Analyst Focus List." Analyst Elodie Rall is optimistic about the building materials company's outlook for the coming year, according to her outlook published Wednesday. Her operating earnings estimates are significantly above the consensus, more so than in years. Her top pick is Heidelberg Materials. The price target for the shares increases from €149 to €150, and the rating remains "Overweight."/ag/tih

  Publication of the original study: November 19, 2024 / 7:14 PM / GMT

  First distribution of the original study: November 20, 2024 / 12:15 AM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 13, 2024

  UBS maintains Heidelberg Materials at 'Neutral' - Target 106 euros

  ZURICH (dpa-AFX Analyst) - Following a UBS conference, the Swiss bank UBS maintained its rating for Heidelberg Materials at "Neutral" with a price target of €106. The focus of the discussion with the cement manufacturer's investor relations representatives was on the recently announced cost-cutting program, analyst Gregor Kuglitsch wrote in a report published Thursday. Overall, the analyst views the industry environment as positive. The companies have pricing power in the US and Europe./mis/men

  Publication of the original study: November 13, 2024 / 9:40 PM / GMT

  First distribution of the original study: November 13, 2024 / 9:40 PM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 10, 2024

  JPMorgan raises target for Heidelberg Materials significantly to 149 euros

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan raised its price target for Heidelberg Materials from €108 to €149 and maintained its "Overweight" rating. Analyst Elodie Rall raised her operating earnings estimates for 2025 and 2026 by up to 12 percent in her review of the quarterly report released on Monday. It now sees itself as up to eleven percent above consensus and continues to view the shares as one of the greatest opportunities in the heavy construction materials sector./ag/mis

  Publication of the original study: November 10, 2024 / 1:21 PM / GMT

  First distribution of the original study: November 11, 2024 / 12:15 AM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 8, 2024

  RBC raises target for Heidelberg Materials - 'Outperform'

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC raised its price target for Heidelberg Materials from €128 to €139 and maintained its rating at "outperform." Analyst Anthony Codling adjusted his estimates on Friday to reflect the goals of the "Transformation Accelerator" initiative announced the day before. Progress in this regard will be important for the investment story going forward. He considers the shares to be attractively valued anyway./ag/tih

  Publication of the original study: November 8, 2024 / 5:59 a.m. / EST

  First distribution of the original study: November 8, 2024 / 5:59 a.m. / EST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 7, 2024

  Barclays raises target for Heidelberg Materials - 'Overweight'

  LONDON (dpa-AFX Analyst) - British investment bank Barclays has raised its price target for Heidelberg Materials from €106 to €111 and maintained its rating at "Overweight." In light of the improved outlook and higher expectations for the final quarter, analyst Tom Zhang wrote in his commentary published Friday that he has moderately raised his earnings estimates. He also takes into account statements made by management in the investor round following the presentation of the quarterly results. The focus here was on a new cost-cutting program and acquisitions./gl/ag

  Publication of the original study: November 7, 2024 / 11:43 PM / GMT. First distribution of the original study: November 7, 2024 / 11:47 PM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 7, 2024

  Berenberg raises target for Heidelberg Materials to 138 euros - 'Buy'

  HAMBURG (dpa-AFX Analyst) - Private bank Berenberg raised its price target for Heidelberg Materials from €120 to €138 and maintained its "Buy" rating. Analyst Harry Goad reiterated his buy recommendation on Thursday evening following the quarterly report and praised the positive momentum./ag/gl

  Publication of the original study: November 7, 2024 / 5:00 PM / GMT. First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study.

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 7, 2024

  Goldman leaves Heidelberg Materials at 'Neutral' - Target 109 euros

  NEW YORK (dpa-AFX Analyst) - US investment bank Goldman Sachs has maintained its rating for Heidelberg Materials at "Neutral" with a price target of €109. The third quarter slightly exceeded expectations, analyst Pierre de Fraguier wrote on Thursday morning after the company's results were released. The lower end of the operating profit target range for 2024 has been increased./ag/gl

  Publication of the original study: November 7, 2024 / 8:06 a.m. / CET First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• November 7, 2024

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" with a price target of €108. Analyst Elodie Rall wrote Thursday morning after the results were released that the third quarter was solid. The increased annual targets still leave the consensus with room for improvement in the low single-digit percentage range. Even after the strong performance of the shares, Rall still expects a positive price reaction./ag/gl

  Publication of the original study: November 7, 2024 / 6:34 a.m. / GMT First distribution of the original study: November 7, 2024 / 6:34 a.m. / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• October 11, 2024

  UBS raises target for Heidelberg Materials to 106 euros - 'Neutral'

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS raised its price target for Heidelberg Materials from 105 to 106 euros and maintained its rating at "neutral." Momentum is slowing, wrote analyst Gregor Kuglitsch in his outlook for the quarterly report published on Friday. It assumes that operating profit at the end of the year will be in the lower half of the target range./ag/tih

  Publication of the original study: October 11, 2024 / 08:52 / GMT

  First distribution of the original study: October 11, 2024 / 08:52 / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• October 9, 2024

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained its rating for Heidelberg Materials at "Overweight" ahead of its quarterly results, with a price target of €108. Operating profit (EBITDA) is unlikely to have increased significantly, likely disappointing, analyst Elodie Rall wrote in a report released Wednesday. However, the cement manufacturer is likely to achieve its targets for the full year./ajx/mis

  Publication of the original study: October 9, 2024 / 4:50 p.m. / BST First distribution of the original study: October 9, 2024 / 4:50 p.m. / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• October 7, 2024

  UBS maintains Heidelberg Materials at 'Neutral' - Target 105 euros

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS has maintained its rating for Heidelberg Materials at "neutral" with a price target of €105. A sale of the cement manufacturer's India business would "release" approximately €3 to €4 per share in value, analyst Gregor Kuglitsch wrote in a quick assessment released Tuesday. The spin-off would come as no surprise given management's statements./mf/mis

  Publication of the original study: October 7, 2024 / 6:41 a.m. / GMT

  First distribution of the original study: October 7, 2024 / 6:41 a.m. / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• October 7, 2024

  RBC lowers Heidelberg Materials target to 128 euros - 'Outperform'

  NEW YORK (dpa-AFX Analyst) - Canadian bank RBC lowered its price target for Heidelberg Materials from €131 to €128 ahead of the third-quarter reporting season, but maintained its rating at "outperform." Analyst Anthony Codling generally reduced his operating profit (EBITDA) expectations for global building materials companies in his industry outlook published on Tuesday. He justified this with weak market data from the US and Europe, as well as weather and currency influences./tih/ag

  Publication of the original study: October 7, 2024 / 7:36 PM / EDT

  First distribution of the original study: October 8, 2024 / 12:45 AM / EDT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 13, 2024

  UBS maintains Heidelberg Materials at 'Neutral' - Target 105 euros

  ZURICH (dpa-AFX Analyst) - Swiss bank UBS has maintained a "neutral" rating on Heidelberg Materials with a price target of €105 in view of a smaller acquisition of the building materials manufacturer. The acquisition of Votorantim's Moroccan activities is another transaction to consolidate a local market and appears to make strategic sense, wrote analyst Gregor Kuglitsch in a study published Friday. However, the acquisition is too small to have any impact on the share price./gl/nas

  Publication of the original study: September 13, 2024 / 4:12 PM / GMT First distribution of the original study: September 13, 2024 / 4:12 PM / GMT

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 10, 2024

  JPMorgan maintains Heidelberg Materials at 'Overweight'

  NEW YORK (dpa-AFX Analyst) - US bank JPMorgan has maintained Heidelberg Materials' "Overweight" rating with a price target of €108. Expectations for the current half-year appear achievable for most European building materials producers, and corporate targets appear rather conservative, wrote analyst Elodie Rall in her industry commentary published Wednesday. The most positive assessments are given to CRH, Heidelberg Materials, and Saint-Gobain, where the consensus estimates continue to show room for improvement./gl/ag

  Publication of the original study: September 10, 2024 / 9:19 PM / BST First distribution of the original study: September 11, 2024 / 12:15 AM / BST

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG) and Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.

• September 5, 2024

  Berenberg maintains Heidelberg Materials' 'Buy' rating - target 120 euros

  HAMBURG (dpa-AFX Analyst) - Private bank Berenberg has maintained its rating for Heidelberg Materials at "Buy" with a price target of €120. Analyst Harry Goad attested to the building materials group's promising stock valuation in a study published Friday. Heidelberg's balance sheet leaves room for both growth investments and increased capital returns./tih/mis

  Publication of the original study: September 5, 2024 / 3:46 PM / GMT

  First distribution of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

  Note: Information on the disclosure obligation in the event of conflicts of interest within the meaning of Section 85 (1) of the German Securities Trading Act (WpHG), Article 20 of Regulation (EU) No. 596/2014 for the aforementioned analyst firm can be found at http://web.dpa-afx.de/offenlegungspflicht/offenlegungs_pflicht.html.