Holcim climbs 4% in Zurich, hailed for the announcement of its intention to list its North American activities on the US stock exchange, an operation which should be finalized in the first half of 2025.

'To everyone's surprise, Holcim is giving in to the temptation of the American dream and its more generous multiples', reacted Oddo BHF this morning, which, while maintaining its 'neutral' opinion on Holcim, raised its price target from 60 to 70 Swiss francs.

The market should welcome the announcement of the spin-off of the North American business, especially as a large number of L/S investors still prefer Heidelberg Materials to Holcim", said the research firm.

In addition, the Swiss group announced the appointment of Miljan Gutovic as CEO with effect from May 1, 2024, succeeding Jan Jenisch who, remaining Chairman, will be responsible for leading the listing of the North American business on the US stock exchange.

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