Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

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.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus