Piovan: Has options to change biz mix, GS ups to "buy"

Piovan SpA

29/08/2019 08:03

** Goldman Sachs says now is a good time to buy shares in
Italian plastics equipment maker Piovan  PVNA.MI  as shares have
lost value due to long-term concerns over the future of plastics
in the food sector
    ** Single-use plastic items such as straws, forks and knives
as well as cotton buds will be banned in the European Union by
2021 following a vote by EU lawmakers in March  urn:newsml:reuters.com:*:nL8N21E5VJ
    ** The broker ups the stock to "buy" from "neutral", adding
that less than a third of the company's sales come from
packaging-related plastic processing equipment
    ** The market underestimates Piovan's strong balance sheet,
which should allow the company to keep on shifting its mix away
from equipment for processing plastic packaging, GS says

 ((silvia.recchimuzzi@thomsonreuters.com))