ING promotes Italy’s Buzzi Unicem stock to “buy”

Analysts at ING upgraded on Wednesday the stock rating on Italy’s Buzzi Unicem to “buy” from “hold.”

At the start of the week, brokerage Equita forecast a EUR51m loss for Buzzi Unicem in the first quarter of 2010 with EBITDA in decline by EUR55m to EUR19m, and a 12 per cent yearly drop in turnover to EUR514m.