DB starts Italy's Buzzi with 'buy' on strong balance sheet

Buzzi SpA

02/10/2024 09:14

** Deutsche Bank initiates Italy's Buzzi  BZU.MI  with "buy"
saying it expects the cement maker's balance sheet to remain
strong, with significant scope for expansion
    ** It sees scope for M&A, capex or enhanced shareholder
returns despite a 520 mln euro ($576 mln) net impact resulting
from the proposed purchase of the remainder of its Brazilian JV
    ** The broker sets Buzzi's PT to 42.00 euros, indicating a
19% upside to Tuesday's closing price of 35.36 euros
    ** The stock rises as much as 2.3% in early trading and is
up 0.6% by 0755 GMT
    ** Out of 15 analysts that cover Buzzi, ten rate it "strong
buy" or "buy", ​four "hold" and one "sell"

($1 = 0.9033 euros)

 (Reporting by Michela Stasio)
 ((michela.stasio@thomsonreuters.com))