Berenberg upgrades Italcementi

Analysts at Berenberg bank have upgraded its recommendation on Italian cement major Italcement's stock to 'buy' from 'sell' with a target price of EUR6.30.

Berenberg said the planned merger between Holcim and Lafarge "remains the dominant theme for the sector". They said Italcementi's asset portfolio favours the company as the cement sector faces significant consolidation.