BofA Securities Raises CEMEX Price Target Amid Cost-Saving Initiatives

BofA Securities has raised CEMEX's price target to $10 and $8.60, citing the company's aggressive cost-saving programs and focus on generating free cash flow. The new CEO has reiterated plans to improve return on invested capital and deploy $2 billion in mergers and acquisitions. The cement stock has outperformed its peers over the past six months, with a 53% spike.