** Analysts say Holcim will benefit from decarbonisation and sustainability as the Swiss cement maker completed on Monday the spin-off of its North American business Amrize

** After the spin-off, Holcim shares fell 33% from Friday's close to reflect the separation

** Amrize achieved a $30 billion valuation in early trading on Monday, but its shares lost 8.8% as Holcim investors sold some of their stock

DECARBONISATION AND SUSTAINABILITY AHEAD

** J.P. Morgan reinstates coverage with "overweight" rating with PT of 65 CHF

** After Amrize spin-off, the broker sees a "renewed focus on Holcim and its ability to benefit from the decarbonisation angle in European Cement"

** Morgan Stanley upgrades Holcim to "overweight" from "equal-weight", cuts PT to 55 CHF from 97 CHF

** RBC Capital Markets, which cut PT from 99 CHF to 50 CHF, says Holcim in strong position to benefit from recovering European markets

** "It is often said that you cannot serve two masters, and Holcim wanted to resolve this perceived conflict and battle for capital, to free up the North American business to focus on growth, whilst it remained focused on sustainability, innovation and cash returns," it says

** UBS sees attractive medium-term growth and cash generation potential, but balanced risk/reward at current share price; raises PT to 52 CHF from 46 CHF

(Reporting by Tiago Brandao)

((Tiago.Brandao@thomsonreuters.com;))