Saint-Gobain: Oddo BHF raises TP
(CercleFinance.com) - Oddo BHF has confirmed its 'outperform' rating on Saint-Gobain shares, raising its target price for them from E95 to E110, to take account of market data, and believes that the group's valuation multiples should continue to recover.
Noting that Saint-Gobain is studying the potential sale of its automotive glass unit, Bloomberg says, the broker believes that such a divestment could only be a first step to a more ambitious strategy.
According to Oddo BHF, management will probably use the cash from a potential divestment to further strengthen its position in building chemistry, but also probably to continue its share buyback program.
Overall, analysts remain convinced that the changes of the last few years have not yet been integrated at fair value. At around seven times EV/EBITDA 2025, Saint-Gobain has significant catch-up potential.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Noting that Saint-Gobain is studying the potential sale of its automotive glass unit, Bloomberg says, the broker believes that such a divestment could only be a first step to a more ambitious strategy.
According to Oddo BHF, management will probably use the cash from a potential divestment to further strengthen its position in building chemistry, but also probably to continue its share buyback program.
Overall, analysts remain convinced that the changes of the last few years have not yet been integrated at fair value. At around seven times EV/EBITDA 2025, Saint-Gobain has significant catch-up potential.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.