Improved recommendations on Lafarge share after Q1 2012 results
First publishedon www.AggBusiness.com
Three brokers have upgraded their recommendations on Lafarge after the French building group recorded better than expected Q1 2012 results.
While maintaining its share price target of €37, Citibank upgraded its recommendation to 'buy'. Equita included Lafarge in its portfolio of preferred European stocks, while upgrading its recommendation to 'buy'. Finally, Helvea upgraded its recommendation from 'moderate sell' to 'hold', with a share price target up from €26 to €30.
Lafarge’s Q1 sales rose 5% in the first three months of 2012; while net income Group share improved to €18million. The company’s EBITDA also rose by 8% to €516million.