LONDON (dpa-AFX Broker) - The British investment bank Barclays has upgraded Heidelberg Materials from "Underweight" to "Overweight" and raised its price target from 70 to 106 euros. The improved pricing power of European building materials manufacturers should continue, and margins have further room for improvement in view of falling energy costs, wrote analyst Tom Zhang in an industry report published on Tuesday. Volumes are likely to remain moderate, but this is less significant than in past industry cycles as companies are acting more rationally and valuations are attractive. The upgraded stocks of Heidelberg Materials and Buzzi are also supported by their operational strength and geographical positioning./gl/edh

Publication of the original study: 19.02.2024 / 15:24 / GMT First distribution of the original study: 19.02.2024 / 16:45 / GMT

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