Millenium IB restarts coverage on Cimpor

Millenium IB restarts coverage on Cimpor
06 July 2010

The average price target and the potential recovery of Cimpor has changed after Millennium IB has restarted coverage and Santander changed its assessment.

The company now has a "target" average of 5.55 euros, up 10 cents compared to the previous price target and a potential recovery of 18.72% over the closing price on Friday, EUR 4.675 .

Millennium IB resumed coverage of Cimpor with a target price of 6.05 euros and a recommendation from "buy." Before suspending coverage of Cimpor (during the failed takeover bid of Brazil’s CSN earlier this year) the  the investment bank had a target price of 7.65 euros.

The bank says the new "target" asserting that it revised downward its estimates for all areas of the company, with the exception of Brazil.
Published under Cement News