Citigroup Cuts CEMEX, S.A.B. de C.V. (CX) Price Target to $12

Citigroup has raised its rating on CEMEX, moving to a Buy with a new target price, a 17.16% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:26 PM EDT

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Citigroup cut its price target on CEMEX, S.A.B. de C.V. ($CX) to $12 from $13.70 on October 15, 2026, and rates the stock "Buy".

Since the rating, $CX is up 1.9% to date (from the $10.06 close on Oct 15, 2026).

CX CEMEX, S.A.B. de C.V.

$10.25 -10.71% year to date

Daily close · Oct 16, 2026

Key Points

Citigroup upgraded CEMEX, S.A.B. de C.V. to a Buy rating with a target price of $12.0, down from $13.7.
Citigroup's $12 price target implies 17.16% upside from CEMEX, S.A.B. de C.V.'s ($CX) current $10.24 share price.
CEMEX shares currently trade at $10.24, which is below the new target price and near its 52-week low of $8.73.
CEMEX's next earnings report is scheduled for October 26, 2026, after a recent revenue of $17.04 billion.

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Citigroup has upgraded its rating on CEMEX, S.A.B. de C.V. (NYSE: CX) to Buy from a previous rating of Hold, with a new price target of $12.0, down from $13.7. The announcement was made on October 15, 2026, as the stock trades at $10.24.

This rating change comes as CEMEX operates in the basic materials sector, specializing in building materials like cement and concrete. The recent performance shows the stock trading below its new target, which could signal potential growth opportunity.

Analyst rating track record

Citigroup vs. the S&P 500

YTD return -4.53% hypothetical

All-time return -4.53% S&P 500 +1.07%

vs. S&P 500 -5.60% behind the index

Hypothetical returns from Citigroup's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in CEMEX, S.A.B. de C.V.

Dodge & Cox Inc. reduced its stake in CEMEX by 5,045,821 shares, leaving it with 80,187,637 shares valued at about $822.3 million. Meanwhile, FMR, LLC increased its holdings by 4,419,722 shares to a total of 38,339,310 shares, now worth approximately $393.2 million. UBS AM also saw a significant change, adding 28,436,254 shares, bringing its total to 28,452,677 shares valued at $291.8 million. Orbis Allan Gray Ltd trimmed its position by 8,835,701 shares, ending with 28,304,697 shares worth about $290.3 million. Lastly, Schroder Investment Management Group slightly reduced its stake by 687,613 shares, totaling 25,964,062 shares valued at around $266.3 million.

CEMEX, S.A.B. de C.V. Stock Up 1.8%

CEMEX shares are currently priced at $10.24, which is close to the lower end of their 52-week range between $8.73 and $13.67. The stock's current price is below its 200-day moving average of $11.89 and may suggest it is undervalued compared to its historical performance.

12-month forecast

$CX price target

CEMEX, S.A.B. de C.V. daily closes and this analyst's $12 target. Not advice.

Recent Earnings

CEMEX reported revenue of $17.04 billion, with a revenue growth of 12.2% year-over-year. The company has an earnings per share (EPS) of $0.35. The next earnings report is set for October 26, 2026.

Dividend

CEMEX has a dividend rate of $0.12, giving it a yield of about 1.24%. The company's payout ratio stands at 28.04%, showing a manageable dividend level relative to its earnings.

Analysts Set New Price Targets

On October 15, 2026, Citigroup upgraded CEMEX's rating to Buy with a price target of $12.0. Prior to this, on October 9, 2026, RBC Capital maintained its Sector Perform rating with a target of $13.25, slightly down from $13.5. Barclays also kept its Overweight rating with a price target of $16.0 as of July 24, 2026.

About CEMEX, S.A.B. de C.V.

CEMEX, S.A.B. de C.V. is a global leader in the building materials industry, producing and selling cement, ready-mix concrete, and aggregates. With operations in several countries, the company plays a crucial role in construction projects worldwide, making its stock movements significant to investors.

Bottom Line

Investors will be watching CEMEX closely as it approaches its next earnings date on October 26, 2026. Citigroup's recent rating upgrade reflects optimism, but the lower target price suggests caution. As always, keep in mind that the 13F filings are backward-looking and may not fully reflect the current market conditions.