(CercleFinance.com) – Saint-Gobain gained more than 1% in Paris, driven by an analysis by Oddo which maintained its outperformance rating on the stock, with a price target raised from 60 to 70 euros.
While the 2022 results will be presented on February 23, the analysis office estimates that the group could record “a good Q4” given trends “generally in line with Q3”.
‘We expect Q4 sales of 12,746 ME, up 13.5% (+11.0% LFL: price +13.0%, volume -2.0%) and operating profit of 5,265 ME, up 17% compared to last year’, indicates the broker.
According to Oddo, Saint-Gobain is one of the big winners in the market rebound driven by lower gas prices and less bad macroeconomic indicators.
“We remain globally convinced that the changes of recent years have not yet been fully integrated (green deal, sustainable ESG profile, strong pricing power, change in the group’s profile through acquisitions and new emblematic disposals)”, concludes the analyst.
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