Atlantia: stock up after proposal to Rome
(CercleFinance.com) - The Atlantia share is up 1.
7% at 11.55 euros in mid-morning trading in Milan on Tuesday, the day after the infrastructure group made a proposal to the Italian government to resolve the dispute over the collapse of the Genoa Bridge in August 2018.
The new proposal, aimed at avoiding the cancellation of the concession contract, includes an increase of 500 million euros (from 2.9 billion to 3.4 billion euros) in the proposed budget to solve the dispute.
Acceptance of the proposal would be good news for Atlantia in that it would remove the uncertainties that have weighed on the stock over the past two years, Oddo BHF acknowledges, even though the broker maintains a "reduce" rating on the share with a target price of 15.2 euros.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
7% at 11.55 euros in mid-morning trading in Milan on Tuesday, the day after the infrastructure group made a proposal to the Italian government to resolve the dispute over the collapse of the Genoa Bridge in August 2018.
The new proposal, aimed at avoiding the cancellation of the concession contract, includes an increase of 500 million euros (from 2.9 billion to 3.4 billion euros) in the proposed budget to solve the dispute.
Acceptance of the proposal would be good news for Atlantia in that it would remove the uncertainties that have weighed on the stock over the past two years, Oddo BHF acknowledges, even though the broker maintains a "reduce" rating on the share with a target price of 15.2 euros.
Copyright (c) 2020 CercleFinance.com. All rights reserved.