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Bear of the Day

CEMEX (CX)

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July 31, 2009 |Comments: 0
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CX

We are keeping our Sell rating on CEMEX, S.A. de C.V. (CX). The company posted weak results in the second quarter of 2009 with more than 50% decrease in net income year over year.

The continued weak cement volumes in Spain and the U.S. are problematic. The short-term outlook for the company remains highly uncertain based on the prolonged downturns in the residential sector and tight credit conditions coupled with fall in the real estate prices throughout the world.

Moreover, the continuous increase in net debt is extremely concerning. Our six-month target is $8 per share.

CEMEX (CX) : FULL ANALYST REPORT

Bear of the Day
Every day we feature one stock with a Zacks Recommendation of Sell that is set to underperform over the next 6+ months. We also provide you with free access to the in-depth research report on the stock. If you would like to see all our Buy and Sell rated stocks and in-depth research reports, then check out  Zacks Premium.

Read the full analyst report on CX

 
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