Heidelberg Materials rises after MS upgrades by two notches

Heidelberg Materials AG

18/03/2026 08:30

** Shares in German building materials company Heidelberg Materials HEIG.DE rise 3.5% after Morgan Stanley upgrades by two notches to "overweight" from "underweight"

** The broker sees an attractive entry point as shares lost in value due to misplaced concerns about cement pricing and a lower carbon price backdrop

** It sees limited evidence for a correlation between cement prices and the EU Emission Trading Scheme which has seen policy uncertainty

** The broker also points to the German infrastructure stimulus, U.S. infrastructure and reshoring needs and a residential recovery as potential growth drivers

** Heidelberg Materials shares are down 22% year-to-date

 (Reporting by Simon Ferdinand Eibach)

 ((Simonferdinand.eibach@thomsonreuters.com))