Deutsche Bank lowers Buzzi Unicem rating to "hold"

Deutsche Bank lowers Buzzi Unicem rating to "hold"
Published: 05 May 2010

Deutsche Bank analysts announced a downgrade in the stock rating of Italian cement producer Buzzi Unicem to "hold" from "buy".
 
Last week Italian brokerage Equita said it expected the company to have widened net loss to EUR51m (US$66.1m) in the first quarter of 2010 from EUR 43m a year earlier. The broker foresaw a 12% yearly drop in Buzzi Unicem’s revenue to EUR 514m, expecting a weak quarter due to the low prices in the United States and Italy.