(CercleFinance.com) – Oddo BHF maintains its ‘outperform’ rating on Saint-Gobain shares with a price target raised from 70 to 80 euros, citing ‘a rather good end to the year with no surprises’.
For the 4th quarter, the analyst anticipates a turnover of 11,285 ME, down 11.8% (-3.9% like for like) and expects an operating profit of 5,167 ME, down 3% compared to to last year.
Oddo BHF reports that Saint-Gobain is not expected to reveal very precise guidance but that it could still target an operating margin between 9 and 11% in 2024.
‘We remain generally convinced that the changes of recent years have not yet been fully integrated,’ concludes the broker.
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