Home improvement spending expected to decline as industry sees upward price pressures - UBS
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
- Home Improvement Spending Outlook: Predicted decline in 2024 due to higher interest rates and reduced consumer savings, offset by rising home equity levels.
- U.S. Economy Forecast: Expected resilience but deceleration in 2024 as wages outpace inflation, according to UBS Investment Bank's chief economist.
- Factors Affecting Housing Prices: Anticipated upward pressure on housing prices due to various factors like consumer preferences, regulation challenges, labor shortages, and supply-demand imbalances.
- New Single-Family Home Sales: Increased by 1.5% month-over-month in January to 661,000, with demand affected by a shortage of existing homes.
- Construction Industry Trends: Construction materials at historical lows, while machinery and equipment, final demand construction saw decreases in January compared to the previous year.
Analyst Views on CX
Wall Street analysts forecast CX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CX is 11.43 USD with a low forecast of 11.10 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
3 Buy
2 Hold
0 Sell
Moderate Buy
Current: 12.920
Low
11.10
Averages
11.43
High
12.00
Current: 12.920
Low
11.10
Averages
11.43
High
12.00
About CX
Cemex SAB de CV is a Mexico-based operating and holding company primarily engaged, directly or indirectly, through subsidiaries, in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other globally provided construction materials. The construction-related services supply customers and communities in over 50 countries throughout the world. The Company operates in various locations, including Mexico, the United States, Europe, South America, Central America, Caribbean, Asia, Middle East and Africa. The cement production facilities are located in Mexico, the United States, Spain, Egypt, Germany, Colombia, Poland, Dominican Republic, United Kingdom, Panama, Puerto Rico, Thailand and Nicaragua. The Company is a supplier of aggregates, primarily the crushed stone, sand and gravel, used in various forms of construction.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
