Analysts at Citigroup have raised the price target for HeidelbergCement and given the German cement major a "buy" rating.

The price target was set at EUR61-62. At a current price of the HeidelbergCement stock of EUR54.20 this means an upside potential of 14.39 per cent.

The outlook for building materials manufacturers in Europe is improving, according to analyst Aynsley Lammin in a sector report.