Goldman Sachs Reaffirms Buy on Cemex SAB Amid Strong Earnings

Goldman Sachs analyst Jorel Guilloty has reaffirmed his Buy rating on Cemex SAB (CX), setting a price target of $15.50. This decision comes after Cemex reported its quarterly earnings for the period ending June 30, which saw the company's revenue reach $4.59 billion and net profit hit $346.64 million.

Guilloty's recommendation is in line with Scotiabank analyst Francisco Suarez Savin, who also issued a Buy rating on Cemex SAB last month. However, RBC Capital has taken a more cautious approach, assigning a Hold rating to the company on July 23.

Cemex SAB's shares closed at $11.61 yesterday, and Guilloty's prediction suggests a potential increase of over 33% from this price. His ranking among TipRanks analysts places him at #5078 out of 12366.