Charles Stanley has initiated its coverage on newly-listed building materials group CRH with a hold recommendation after it joined the FTSE 100 earlier this month.
“On valuation the shares are probably cheap on a long term view and should have yield support but, given the economic outlook and the cyclicality of the industry there seems no urgency to buy the shares,” said analyst Tome Gidley-Kitchin.
CRH is moving its main listing to the LSE from the ISEQ. 1098 = £10.98, so don't get too excited! The previous figures here are in pounds too not pence (or maybe Euro? as I haven't been following this board).
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