On 07 July 2009, CRH PLC (CRH) issued an operational update for 1H 09. The company indicates that profitability levels for 1H 09 are significantly below our previous expectations. Hence, we are likely to lower our estimates and target price when we revalue the CRH common stock after the company announces its 1H 09 results. However, we maintain our current HOLD rating at current price levels. We will reassess the common stock rating and target price, once the company announces…

CRH PLC (CRH) announced its FY 2008 results on 03 March 2009. The company’s performance was broadly in-line with our expectations. However, we expect weakness in global financial markets and slowdown in global construction activity to negatively impact the company’s future performance. Hence, our outlook for the company remains unchanged and, therefore, we maintain our current HOLD rating for the common stock. We will reassess our target price and ratings in our FY 2008…

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On 06 January 2009, CRH PLC (CRH) released its FY 2008 trading update. Although Management has reiterated its bottom-line estimates for FY 2008, operating profitability is expected to deteriorate. We remain skeptical about the US construction sector, in view of current economic turmoil. As a result, although the common stock target price does not support a SELL rating at current price levels…