Saint-Gobain: Oddo BHF still a buyer

(CercleFinance.com) - Oddo BHF maintains its Outperform rating on Saint-Gobain shares, with an unchanged target price of E95.


With quarterly results due on 29 October, Oddo BHF expects trends to be broadly in line with Q2. Analysts expect volumes to fall by 2.7% in Q3, after -3.1% in Q2 and -4.7% in Q1, and a price effect of -0.4%, after -0.9% in Q2 and -1.1% in Q1.

They also expect Q4 sales of E11,410m, down 1.4%.

The broker says that Saint-Gobain should maintain its guidance of a double-digit margin for H2, with particular attention to the price/cost ratio.

It still expects an operating profit of E5,302m, against a consensus of E5.25bn, and believe that this publication should not change market expectations.


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