Saint-Gobain: at the top of the CAC40 in 2024

(CercleFinance.com) - Saint-Gobain has posted a year-to-date increase of nearly 30%, making it one of the best performers on the CAC40, which is currently between -2.
5% and -3% negative.

Against a tense global economic backdrop, Saint-Gobain turned in a robust performance thanks to strong demand in North America and Asia-Pacific, driven by urbanization and growth in the construction markets", explained Saxo Banque.

"Strategic acquisitions, such as Bailey, are reinforcing this momentum. The group recorded EBITDA of 3.7 billion euros with a margin of 15%, illustrating its resilience and profitability", it continued in a note published this month.

Among the year's best trading sessions, April 26 saw the share price climb by almost 7% on the heels of a quarterly activity update, at which Saint-Gobain stated that it was aiming for a double-digit operating margin in 2024, for the fourth year running.

Last November, Oddo BHF reaffirmed its 'outperform' opinion, raising its target price from €95 to €110 to take account of market data, and believing that valuation multiples should continue to recover.

'Overall, we remain convinced that the changes of recent years have not yet been integrated at fair value. At around seven times EV/EBITDA 2025, Saint-Gobain has significant catch-up potential', the analyst judged at the time.

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