UBS has raised its price target for Heidelberg Materials from 106 euros to 121 euros while keeping a "Neutral" rating.

According to analyst Gregor Kuglitsch, the cement group"s recent outlook statements and efficiency program have led to an increase in operating earnings (EBITDA) estimates until 2027. However, he cautioned that the current share price already reflects more optimistic targets after a recent rally.

Heidelberg Materials shares are currently priced at 119.15 euros, showing a 0.72% increase from the previous day. The stock has experienced fluctuations across different trading venues, with prices ranging from 116.70 euros to a year high of 121.90 euros. Investor sentiment is mixed, with some markets reporting slight declines and others showing modest gains.