Deutsche Bank upgrades Holcim to buy from hold and lifts its target price to CHF90 (EUR74) from CHF70  (EUR57) as the upside potential in the building sector should boost cement demand.

This "when combined with a transformational deal with Lafarge, which brings global leadership status and hopes for greater market discipline, should make the combined entity a key holding for long term shareholders seeking to increase the beta in their portfolio," say Deutsche Bank analysts.