Amrize (AMRZ) is "better positioned" to focus more on growth opportunities in North America as an independent company now that it has spun off from Swiss cement maker Holcim, RBC Capital Markets said in a Tuesday note as it initiated coverage on the stock with an outperform rating and a $61 price target.
The company "can focus on growth without the need to compete internally for capital within a group where cash returns and sustainability rank above growth," the firm said.
RBC said that Amrize is not just about cement, describing the company as a "major and growing player in aggregates" that has also built a "leading position" in the region's roofing market via acquisitions in a span of four years.
Amrize shares were up 3% in recent Tuesday trading.
Price: 53.10, Change: +1.75, Percent Change: +3.41
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