Markets & Finance

BB&T Capital Cuts Lafarge to 'Buy'


Lafarge (LAF) shares fell Monday after BB&T Capital downgraded them to buy from strong buy.

Analyst Jack Kasprzak says the downgrade is a result of continued weak construction demand in the U.S. and his expectation that wallboard results will flatten out in 2003. He says cost pressures at the operating and corporate levels also have potential to negatively affect profitability in 2003.

He cuts his EPS estimates from $1.18 to $1.08 for the fourth quarter, and from $3.54 to $3.44 for 2003. Based on the lower estimates, he also cut his $40 12-month price target to $35.


Hollywood Goes YouTube
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus