Analysts at Nomura have confirmed their "reduce" recommendation on the stock of Italian cement producer Buzzi Unicem considering the developments in the cement sector still difficult in 2011, worsened by the rise in energy costs. The broker keeps a price target of EUR7.00.
Credit rating agency Standard & Poor’s lowered on Thursday Buzzi Unicem’s outlook to "negative" from "stable", saying the cement maker’s credit measures were considered weak and hardly probable to recover to levels commensurate with an investment-grade rating in the short-term.
