Buzzi Unicem goes public after the upgrade from UBS, which raises the recommendation to "buy" and the target price to 144,70 euros. By mid-morning, the stock of the cement and concrete company was among the brightest in Piazza Affari with a +1,2%, at 12,52 euros per share. In the same minutes, the Ftse Mib dropped 1%.
UBS acknowledges the "recent changes in the macroeconomic situation which make the conditions for entry into the market favorable for investors" and considers the repercussions on the market of the Ukrainian crisis to be taken for granted.
"We are attracted by the prospects for solid growth in 2014 and 2015 as the United States (which accounts for around 40% of group EBITDA) shows strong volumes and rising prices", comments UBS, specifying that the conditions market performance improved in the second quarter not only in Italy, but also in Germany, Russia and Mexico.
