(Finance) – Excellent day for Buzzi Unicem, which shows a positive change of 2.69%, reaching its highest since October 2007, after an upgrade by JP Morgan. The US investment bank improved its judgment on the Italian cement company’s stock to “Neutral” from “Underweight” and raised its target price to 23 euros from the previous 21.
The analysis of the stock performed on a weekly basis highlights the bullish trendline of the company active in the cement sector more pronounced than the trend of FTSE Italia All-Share. This expresses the market’s greater attractiveness towards the stock.
The technical status of Buzzi Unicem it is strengthening in the short term, with a resistance area seen at 24.82 Euros, while the first support is estimated at 23.98. The technical implications point to an expansion of performance to the upside, with resistance seen at 25.66.