Cemex SAB de CV (ADR) (NYSE:CX) Gets Upgraded By J P Morgan


Dallas, Texas 12/16/2013 (FINANCIALSTRENDS) – Cemex SAB de CV (ADR) (NYSE:CX) is a $12.98 billion market capped cement manufacturer which is based out of Mexico. In the past one month the stock of this cement major has been riding a bull run thanks to all the positive news the Mexican government is making with respect to opening up the country’s energy sector which holds immense potential.

On the back of such strong imputes from the Mexican government, rating agency of J.P. Morgan has upgraded the ratings of Mexico as a country and has named stock of “Cemex SAB de CV (ADR) (NYSE:CX), Pinfra, Alfa (ALFFF), Fibra Macquarie, and Liverpool” as likely beneficiaries of the expected uptake in the Mexican economy on the back of energy sector driven economy growth. J.P. Morgan analysts have been quoted as recommending, “After listening to local pension and mutual funds and discussing the positive outlook for the economy in 2014, flows from locals could further drive upside to the market. However, appetite for names is selective in infrastructure related plays together with consumption. We saw a lot of interest in banks in order to play the economic recovery story. We remain OW in Mexico.”

Cemex SAB de CV (ADR) (NYSE:CX) stock has been trading at $11.43 per share which is just 9 percent lower than its prior 52 week high price point of $12.57 per share. With the expected increase in its sales and revenue the company executives would be hoping that they would be able to turn the fortunes of the company around quicker than many have credited it possible for the firm. This is because the cement manufacturer has totted up net loss of $1.1 billion over the trailing 12 months from net sales of $14.9 billion. Investors in the stock would be hoping that the rally in the stock would happen much earlier than expected.

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