Morgan Stanley pours praise on CRH

Morgan Stanley has voted CRH the best managed company with the most consistent track record in the building industry.

In its yearly Investment Perspectives report, the broker said the acquisitions made in 2003 will start to contribute to a strong year in 2004.

Morgan Stanley put a share price target of €18 on the building giant .This price is higher than the €16.40 CRH is currently trading at on the ISEQ today.

Earlier today the European Commission gave the green light for CRH with Samsa to take over French building firm Doras.

So far this year CRH has spent €1.52bn on acquisitions.