Buzzi Unicem (BZU) - ex Pépites PEA

[Xav]

Cours du jour:
34,62 +0,54 +1,58%

J'avais pas vu votre sortie de Buzzi. Y croyant dure comme fer, je ne m'en suis pas préoccupé. Par contre là, ça a bien monté. Barclays a donné son analyse du secteur:


BUZZ-European cement producers to enjoy improved market conditions - Barclays
10:24 20/02/2024
Buzzi SpA

Barclays sees opportunities in European cement producers due to "structurally improved market" conditions
It says companies will enjoy better pricing power due to inflation and supportive infrastructure demand trends, especially in the West/South of Europe, while being able to further expand margin as energy costs abate
Analyst adds that "companies are gradually pulling back on underlying capex in developed markets, pushing spend (as a share of asset base)to record lows, and pushing free cash flow conversion towards record highs"
This strategy, alongside with already healthy balance sheets, could push companies to increase shareholder returns, according to Barclays
It upgrades Germany's Heidelberg Materials by two notches to "overweight" from "underweight" on very consistent margins and earnings stability
It upgrades Italy's Buzzi to "overweight" from "equal weight" on its high potential for shareholder returns as the forecasted 0.71 eur/shr base dividend could be coupled with further 500 million euros of extra returns
Barclays cuts France-based Vicat to "equal weight" due to the high leveraged balance sheet and Swiss Holcim to "underweight" due to relatively prudence on the potential value creation from the US spin-off
(Reporting by Alberto Chiumento)