Norsk Hydro: shares up in Oslo on UBS upgrade

(CercleFinance.com) - Shares in Norsk Hydro are currently up 1.
1% at 54.3 Norwegian kronor after UBS upgraded the stock from "neutral" to "buy," while lifting its target price to 70 Norwegian kronor, from 60 Norwegian kronor previously.

In a research note, UBS analysts say a recent statement from Brazilian authorities has increased their confidence that the Alunorte aluminium plant will restart in the second halft of the year, creating a positive catalyst for the shares.

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