(CercleFinance.com) – Oddo maintains its ‘outperformance’ rating on Saint-Gobain shares with an unchanged target price of 80 euros.
According to the analyst firm, the 1st quarter of 2022 was driven by prices rather than volumes. ‘We expect Q1 sales of 11.4 billion euros, up 9.5% (+10.4% LFL/price +11.1%) with volumes down 0.6% given the high comparison base in the Southern Europe zone and Americas’, indicates the broker.
Management should remain optimistic about its ability to cover cost/raw material inflation in 2022.
Finally, despite the share’s 12% decline since the start of the year, Oddo believes that the share still has strong rebound potential: green deal, sustainable ESG profile, new emblematic disposals and another record year.
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