Cemex S.A.B. de C.V. Downgraded to Sector Perform, Price Target Raised to $11.10 by Scotiabank

Cemex S.A.B. de C.V. (CX) was downgraded to Sector Perform from Outperform by Scotiabank, but the price target was lifted to $11.10 from $10.90. The firm believes CX shares are due for a "pause" after the year-to-date rally and does not see any short-term catalysts to sustain the momentum. CX is a global construction materials company with operations in Mexico, the US, Europe, and more.