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Saint-Gobain: Oddo BHF still a buyer

( - Oddo BHF maintains its 'outperform' rating on Saint-Gobain shares, with an unchanged target price of E88.

The analyst points out that Saint-Gobain yesterday announced that it reached a definitive agreement to acquire the Bailey group, an unlisted producer of metal frames in Canada, in a transaction worth E600m (880m CAD).

The group will benefit from significant synergies, given the strong complementarity with the existing products of its subsidiaries, Oddo BHF says.

Our business plan for Saint-Gobain's acquisition of Bailey shows ROCE of nearly 10% in 2027, based on continued market growth of 4%, the broker adds, which believes that the stock has significant potential to catch up with its peers.

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