Saint-Gobain: Oddo raises target price
(CercleFinance.com) - Oddo maintains its outperform rating on Saint-Gobain shares, having increased its target price for them from 60 euros to 70 euros.
With the group set to unveil its 2022 results on 23 February, the broker believes that the group could record a good Q4, given trends that are pretty much in line with Q3.
The broker expects Q4 sales of 12,746 million euros, up 13.5% (+11.0% LFL: prices +13.0%, volume -2.0%) and operating profit of 5,265 million euros, up 17% YOY.
Oddo says that Saint-Gobain is one of the big winners in the market rebound, driven by lower gas prices and fewer bad macroeconomic indicators.
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