Berenberg upbeat on green cement potential, starts HCG with 'buy'

Hoffmann Green Cement Technologies SA

07/09/2021 09:11

** Berenberg initiates Hoffmann Green Cement (HCG)
 ALHGR.PA  with a "buy" rating, citing the "exciting potential"
of its low-carbon green cement product compared to traditional
cement
    ** Given pressures on the construction industry to reduce
its CO2 footprint, the launch of HGC's green cement product in
France is a "significant new entrant", the brokerage says
    ** Although the group has received a certification for its
first product, Berenberg "nevertheless recognise(s) that winning
customer confidence in this new product will take time"
    ** The brokerage also points to HCG's customer relationships
with some of the largest construction and contracting companies
in France like CEMEX, Eiffage  FOUG.PA  and Bouygues  BOUY.PA 
    ** The stock, rated at "buy" by two analysts, is up around
15% year-to-date

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))