Saint-Gobain: Oddo still a buyer, with rumours about Jewson
(CercleFinance.com) - Oddo maintains its Outperform rating on the stock, confirming its target price of 60 euros.
According to the British press (Sky News), Saint-Gobain has hired bankers from JP Morgan to sell Jewson. A sale to get off on the right foot, the analyst notes, for whom, according to estimates, the group's revenues would be close to 2.3 billion euros for an EBIT of around 70 million euros (3% margin).
In the end, if the sale is confirmed, the group could receive between 600 and 900 million euros.
For Oddo, this good news shows that the group is continuing to clean up its portfolio regardless of the context. However, the energy crisis and the risk of recession should continue to take precedence over the fundamentals. In this context and even in the event of a recession, analysts believe that Saint-Gobain's stock should be able to outperform its sector.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
According to the British press (Sky News), Saint-Gobain has hired bankers from JP Morgan to sell Jewson. A sale to get off on the right foot, the analyst notes, for whom, according to estimates, the group's revenues would be close to 2.3 billion euros for an EBIT of around 70 million euros (3% margin).
In the end, if the sale is confirmed, the group could receive between 600 and 900 million euros.
For Oddo, this good news shows that the group is continuing to clean up its portfolio regardless of the context. However, the energy crisis and the risk of recession should continue to take precedence over the fundamentals. In this context and even in the event of a recession, analysts believe that Saint-Gobain's stock should be able to outperform its sector.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.