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Piaggio: market bets on demand recovery and stock soars

The firm yesterday announced a buyback and today cashed in an upgrade from Akros. Waiting for a recovery in demand

Piaggio: market bets on demand recovery and stock soars

In the earthquake that hit the Stock Exchanges after New Year's Eve, however, there is no shortage of positive news. Piaggio it leapt after the recent declines and at 11,30 it was up by 7,5% to 2,064 euros, with trades of one million pieces from a daily average of the last 30 days of 670.000 pieces.

Yesterday Piaggio announced a buyback at an average price of 2,07 euros per share. Market is reevaluating the share on expectations for a recovery in demand in Europe. Banca Akros today revised upwards the recommendation to "accumulate" with a target of 2,7 euros, also on expectations for new models.

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