With a P/E that is still over 21, even though it may rally from its present low, it looks inevitable that CRH, like American shares in general, will continue to fall for a considerable time.
A substantial rise in earnings is necessary to maintain current price levels.
European shares trade at a P/E of around 14 and American shares must correct to similar levels. I am neutral for the moment, as there may be an upswing from the current level before continuing the downtrend.
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