Mediobanca lowers Italcementi’s price target to EUR 9.40

Mediobanca lowers Italcementi’s price target to EUR 9.40
Published: 14 June 2010

Mediobanca reduced Friday its share price target on Italy’s cement maker Italcementi to EUR 9.40 from EUR 11.30.
 
The broker confirmed its "outperform" recommendation on Italcementi but cut the profitability estimates for 2010 and 2011.
 
Separately, ING slashed to EUR 6.50 from EUR 10.20 its price target on the Italian group, lowering the earnings-per-share (EPS) forecasts for 2011 by 54% and those for 2012 by 51%.