Cement News tagged under: UBS
UBS initiates Italcementi with ‘Sell’05 July 2012, Published under Cement NewsUBS has initiated Italcementi at sell with a target of EUR3.40, reports from Dow Jones show. UBS cites a negative view of the cement maker's core Italian market, underwhelming cash flow generation, among other factors. "We expect Italian cement volumes to fall 20% in FY12," it says. "Italcementi is trading at a near 15-year low, following a peak-to-trough EBITDA decline of circa 52%. The shares are highly leveraged (financially and operationally) to a stronger economic environment." UB... |
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