Saint-Gobain: Jefferies raises target price
(CercleFinance.com) - While maintaining its "hold" recommendation on Saint-Gobain shares Jefferies has significantly raised its target price for them from 41.
4 euros to 58.3 euros (current price: 52 euros, +1%), also increasing its operating profit estimates for the building materials group by 8% for 2021 to 2023.
"Even in the context of the already reported 'upbeat' start to FY21, with the Americas & Southern Europe showing continued strong momentum, 1Q21 could surprise positively", the broker says prior to the group's trading update on 29 April.
"Trading at 6.2x FY22 EV/EBITDA, Saint Gobain remains inexpensive. However, after recent strong performance, the shares may quieten while we await the update from the new CEO in October", it warns.
Copyright (c) 2021 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.
4 euros to 58.3 euros (current price: 52 euros, +1%), also increasing its operating profit estimates for the building materials group by 8% for 2021 to 2023.
"Even in the context of the already reported 'upbeat' start to FY21, with the Americas & Southern Europe showing continued strong momentum, 1Q21 could surprise positively", the broker says prior to the group's trading update on 29 April.
"Trading at 6.2x FY22 EV/EBITDA, Saint Gobain remains inexpensive. However, after recent strong performance, the shares may quieten while we await the update from the new CEO in October", it warns.
Copyright (c) 2021 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.