Nomura cuts Buzzi Unicem’s price target

Nomura cuts Buzzi Unicem’s price target
Published: 31 March 2010

Analysts at Nomura have lowered the share price target on Italian cement maker Buzzi Unicem to EUR12.50 from EUR14.

Last week Buzzi Unicem reported that its turnover declined by 24.1% last year to €2,671.8m.  EBITDA fell by 41.3% to €541.7m and the trading profit was down by 53.7% to €323.0m.