Heidelberg Materials down 4% after JPM cuts FY estimates

** Shares in German company Heidelberg Materials HEI are down 4% after JPMorgan cut the target price and FY estimates

** The broker lowered the co's financial year EBITDA forecast at EUR 4.7 BLN (previously EUR 4.8 BLN) and the target price at EUR 231 (from EUR 235) citing concerning trends from some regional markets (Poland, Romania, UK, Indonesia)

** Shares at lowest since June 24, 2025 and on track for worst day since August 1, 2025