Holcim cut to neutral at Credit Suisse

MADRID (MarketWatch) -- Building materials group Holcim Ltd. was downgraded to neutral from outperform on Wednesday at Credit Suisse, which cited valuations and potential implications from a China slowdown. "The European sector has limited direct exposure to China but a slowdown would create uncertainties related to growth in some emerging regions and would raise the question of a potential increase in Chinese cement exports," the analysts said. Separately, J.P. Morgan reduced its building material forecasts owing to a core Europe weakening, but also maintained an overweight rating on Holcim. J.P. Morgan said successful price rises, weakening year-on-year comparisons and falling commodity prices should ease some pressure from worries over an emerging market slowdown. The investment firm expects the first quarter of 2012 will show the first signs of margin progress as price rises stick.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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