Berenberg starts Danieli with 'buy' on energy saving potential

Danieli & C Officine Meccaniche SpA

21/05/2024 07:47

** Berenberg initiates Danieli  DANI.MI  coverage with a
'buy', viewing the Italian steelmaker as a top pick in the
sector for solutions aimed at CO2 reduction and energy saving
    ** It notes net-zero targets set by major economies are
driving significant change within the industry, with Danieli
"well placed to reap the benefits" of its investments
    ** Berenberg says Danieli's valuation is too low, trading at
a significant discount to its peers in the plant making and
engineered steel markets
    ** It has a 'buy' rating for both the ordinary and savings
shares, setting TPs of 43 euros and 31 euros respectively
    ** Berenberg is only the second broker covering Danieli,
with Equita rating it as at 'strong buy'  

 (Reporting by Enrico Sciacovelli; Editing by Alexander Smith)