NEW YORK (TheStreet) -- Shares of Cemex (CX) - Get Report are dropping by 6.65% to $4.07 late Monday afternoon as Barclays, lowered its price target on the stock to $6 from $9 per ADR and reiterated its "equal weight" rating this morning.
Through its subsidiaries, the Mexico-based operating and holding company is engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates, clinker and other construction materials.
"Ongoing FX headwinds, as well as tough comps make the case for an equal weight: With the recent MXN weakness and ongoing concerns about emerging market currencies in general we remain cautious on Cemex, despite seeing no fundamental concern around the company's ability to meet its financial obligations," Barclays said in an analyst note.
The firm anticipates weak results for the 2015 fourth quarter and remains cautious especially for the first half of 2016 as comparable same-store sales remain challenging.
Cemex is expected to report earnings results on February 4.
Separately, TheStreet Ratings Team has a "sell" rating with a score of D+ on the stock.
This is driven by some concerns, which the team believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers.
The company's weaknesses can be seen in multiple areas, such as its poor profit margins and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CX