EnglishRaiffeisen Centrobank analysts have increased the target price for Alumil Rom Industry (BSE:ALU) for the next twelve months from 2.2 RON to 2.3 RON as ALU shares have gained over 20 per cent on the Bucharest Stock Exchange (BSE) in the past two weeks.
Such progress prompted Raiffeisen Centrobank to change their recommendation from "buy" to "hold" for ALU shares.
Shares in Alumil Rom Industry are currently traded for an average of 2.02 RON/share, down by 12 per cent from the target set by Raiffeisen Centrobank.
Alumil reported a 10 per cent year-on-year decline in H1/09 to 46.5 million RON and a 12.8 per cent year-on-year profit increase to 5.3 million RON from 4.7 million RON in H1/08.
Alumil Rom Industry is controlled by the Greek-based Alumil - Thessaloniki with 55.9 per cent. Michail Sotiriou is the second largest shareholder with 23.95 per cent.
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