Stock up 2.76% (Il Sole 24 Ore Radiocor) - Milan , 03 Jun - Shares of the Italian brake manufacturer Brembo were higher in Milan trade, benefiting from an upgrade from analysts at Banca Akros, who raised their rating on the stock to "accumulate" from "neutral" and hiked the target price to 12.7 euros fom 12.0 euros previously.

At 0935 GMT, Brembo shares were up 2.76% to 10.95 euros while the benchmark FTSE MIB index was 0.69% higher at 34,728.97 points.

According to Banca Akros, Brembo's stock has underperformed that of its reference sector index by about 40% in the last year. The broker notes that industrial and product initiatives now underway - including 540 million euros in investments over a three year period to boost production capacity in North America, China, Europe and Southeast Asia - are expected to bear fruit in 2025 while this year is seen as a year of transition.

AAA-Hob

(RADIOCOR) 03-06-24 11:39:29 (0254) 5 NNNN