First publishedon www.AggBusiness.com
Vicat's turnover in the first nine months of 2011 was in line with expectations, according to Exane.
The French cement production group revised down its Ebitda target for the full year due to a drop in profitability in Egypt.
On these grounds, the broker revised down Vicat's Ebitda target by 6% to €499million for 2011, and by a further 8% to €517million for 2012, Exane has said.
As a result of Vicat's difficulties on the Egyptian market, Exane also revised down the share price target attached to the French company, to €42, down 11% on its previous anticipation.