JPM | Building Broadcast: TPK,AMRZ,SGO,HEI,FGR,DG, ADP,TWI: JPMC Construction Daily

研报英文原文证据摘录

JPM | Building Broadcast: TPK,AMRZ,SGO,HEI,FGR,DG, ADP,TWI: JPMC Construction Daily

- Datacentre Construction: Deep Dive into the Implications of Datacentre

Construction for European Building Materials and Infrastructure

Kingspan: Near term risk/reward more positive; placing on positive catalyst watch

European Building Materials Construction Pulse October Edition: Price Momentum still

slightly up with 2026 announcements starting; costs still down m/m; volume indicators still

showing green shoots in Europe

European Cement EU announces €2.9bn Innovation Fund; closer look at cement projects

European Building Materials Prefer Heidelberg, Holcim and Travis Perkins into results; most

cautious on Sika and GeberitEuropean Building Materials Construction Pulse September

Edition: Price Momentum remains slightly up with costs down m/m; volume indicators still

showing green shoots in Europe with US seeing some improvement

Travis Perkins: Recovery trajectory expected to continue - Placing on positive catalyst watch

into Q3 results

European Building Materials: Still see merits to keeping a ‘Heavy’ tilt

Amrize Unlocking Growth Potential in Building Materials; Initiating with OW Rating

Holcim Ltd Reinstating Coverage at OW; Another attractive play on EU Cement with a Swiss

premium

European Building Materials Q1 Reporting wrap; Remain positive on SGO and HEI and see

scope for CRH to catch up on performance into Q2

Heidelberg Materials Room to go ‘Hei’gher; capturing the upside potential

European Building Materials Construction Pulse May Edition: Price Stability Amid Rising

Costs and Mixed Volume Trends

Sika Downgrading estimates by 3% post Q1; revised estimates now below company

guidance on top line

European Building Materials Reassessing convictions in a volatile market