Saint-Gobain: Jefferies raises target price
(CercleFinance.com) - On Monday Jefferies nudged up its target price for Saint-Gobain shares from 63.
5 euros to 64.1 euros (current price: 57.7 euros, +0.5%), while maintaining its "hold" recommendation on them.
In its comments on the European construction sector, the American broker believes that with its portfolio focused on sustainable construction, the building materials group's offer seems particularly well suited to current market needs.
In its study, Jefferies nevertheless expresses concern about the sustainability of its growth, particularly in the face of the resurgence of the Covid pandemic.
The broker says that it may be necessary to wait for the Chryso acquisition to be digested, or indeed a new takeover to be announced, before the share price manages to free itself from the clutches that are currently limiting its potential.
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