Saint-Gobain: JPMorgan raises its price target

(CercleFinance.com) - On Tuesday, JPMorgan raised its price target for Saint-Gobain to 120 euros from 114 euros, while maintaining its 'overweight' recommendation on the stock.


In a study of the European construction sector, the financial intermediary points out that the French group is particularly exposed to the residential renovation market, which should position it well to take advantage of the Green Pact for Europe.

As a result, the analyst expects the stock to continue its upward trend, once it emerges from the current recessionary environment, thanks to its continued good operating performance.

JPMorgan adds that the share's valuation remains attractive, with a potential upside of 20% to its price target and an Enterprise Value/Ebitda ratio among the lowest in the sector.

The professional indicates that the investor day scheduled for the second half of the year could also be a catalyst for the stock, with the presentation of a new strategic plan and new objectives.

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