UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Cemex

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Cemex (NYSE: CX), and raised its price target from $9.70 to $13.00.

Jefferies & Company noted, “We are increasing our target prices for six of the global cement companies; Buzzi Unicem (+€3.4 on the Ordinaries to €13.4, and +€1.9 to €6.7 on the Savings), Cemex (+$3.3 to $13.0), HeidelbergCement (+€2 to €55), Holcim (+CHF5 to CHF82), Lafarge (+€6 to €59) and Titan (+€5 on the Savings to €17, and +€3 to €8 on the Preference shares). Our ratings on the shares remain unchanged.”

Cemex closed on Tuesday at $10.39.