Vicat: share price falls on downgrade

(CercleFinance.com) - Vicat shares lost 1.
6% on the Paris Bourse on Tuesday, in the wake of a downgrade by analysts at Barclays, who this morning lowered their advice on the cement maker from 'overweight' to 'weighted in line'.

In a sector note, Barclays believes that the solid price control enjoyed by players in the building materials sector is set to continue, thanks to lower energy costs, which should support profit margins.

The research firm has also lowered its target price for Vicat from ?42 to ?41.

Last week, Oddo BHF's teams had maintained their 'neutral' opinion on the stock, while reducing their target from ?34 to ?32.

Last week, Vicat reported its best annual results since its creation and predicted continued growth in 2024, driven by the United States, but also warned against the slowdown underway in Europe.

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