Saint-Gobain: Bryan Garnier sticks to 'Buy' after deal
(CercleFinance.com) - Bryan Garnier reiterates its 'Buy' recommendation and its fair value of 53 euros for Saint-Gobain, following the deal struck by the construction-materials group with Sika and the Burkard family.
Saint-Gobain has acquired SWH for 3.22 billion Swiss francs, totalling 500 million more than the initial price set in December 2014, and has sold 6.97% of Sika's capital for 2.08 billion francs, retaining a 10.75% stake.
The broker also highlights that the group declared positive net results of approximately 600 million euros from this transaction. “This is not the plan initially presented to the market but at least the Sika saga looks over to us”, it concludes.
Copyright (c) 2018 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.
Saint-Gobain has acquired SWH for 3.22 billion Swiss francs, totalling 500 million more than the initial price set in December 2014, and has sold 6.97% of Sika's capital for 2.08 billion francs, retaining a 10.75% stake.
The broker also highlights that the group declared positive net results of approximately 600 million euros from this transaction. “This is not the plan initially presented to the market but at least the Sika saga looks over to us”, it concludes.
Copyright (c) 2018 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.