Buzzi stock falls as UBS cuts target to EUR 34

Published on 09/22/2026 at 13:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Buzzi stock faced a UBS downgrade on September 22, 2026, with the target cut from EUR 52 to EUR 34. H1 EBITDA fell 8 percent to EUR 483 million.

Zementwerk mit Drehrohrofen und Kalksteinbruch, Buzzi S.p.A., ISIN IT0001347308 — Fotorealistische Aufnahme eines Zementwerks zeigt Buzzi S.p.A., ISIN IT0001347308, mit Drehrohrofen und Kalksteinbruch, Illustration mit AI erstellt.

Buzzi stock was quoted at EUR 36.95 on the Milan exchange on September 22, 2026, down EUR 0.45 or 1.20 percent from the prior close of EUR 37.40. The immediate catalyst was a UBS downgrade to Sell and a price-target cut from EUR 52 to EUR 34, as Investing.com reported on September 22, 2026.

UBS sees pressure in the United States

The downgrade is tied to weaker expected demand in the Southern United States during fiscal year 2027. According to Investing.com on September 22, 2026, US cement operations account for approximately 45 percent of Buzzi EBITDA, while UBS expects earnings-per-share reductions of 10 percent to 25 percent for fiscal years 2027 through 2030.

The target reduction of EUR 18 is material relative to the previous EUR 52 level. UBS also estimated that EBITDA could remain 3 percent to 12 percent below consensus through fiscal year 2030, with cement imports adding pressure in Southern US markets and carbon costs weighing on European operating leverage.

H1 EBITDA fell to EUR 483 million

Buzzi reported EBITDA of EUR 483 million for H1/2026, an 8 percent decline from the comparable period, according to the H1/2026 earnings summary published by Investing.com. Weakness in the United States and Russia offset gains in Brazil, Mexico, and Italy.

The same H1/2026 summary said Buzzi maintained a net cash position of EUR 896 million as of June 30, 2026, and reaffirmed full-year 2026 EBITDA guidance of EUR 1.1 billion to EUR 1.2 billion. That guidance range provides a counterweight to the UBS view, but the 8 percent first-half EBITDA decline makes the second-half volume recovery central to the outlook.

Stock trades near its yearly low

The share price of EUR 36.95 on September 22, 2026, stood close to the session low of EUR 35.53 and below the previous close of EUR 37.40. Investing.com listed a 52-week range of EUR 37.16 to EUR 54.75, daily volume of 363,390 shares, and a market capitalization of EUR 6.6 billion.

Buzzi stock therefore combines a lower valuation level with a sharply reduced UBS target. The next earnings report was listed for November 5, 2026, giving the second-half operating recovery and the confirmed EUR 1.1 billion to EUR 1.2 billion EBITDA guidance range a defined checkpoint.