Saint-Gobain: UBS still on hold
(CercleFinance.com) - UBS maintains its neutral rating on the stock, with an unchanged target of E62, ahead of the glass maker's Q3 2023 results.
"Q323 sales (26th Oct) should not hugely surprise and track in line with guidance, but could raise some concerns about a sequential volume slow down," says UBS.
The broker acknowledges that the stock's valuation is starting to become more tempting, although believes that there remains the fear that earnings will peak, so it prefers to remain patient.
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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.
"Q323 sales (26th Oct) should not hugely surprise and track in line with guidance, but could raise some concerns about a sequential volume slow down," says UBS.
The broker acknowledges that the stock's valuation is starting to become more tempting, although believes that there remains the fear that earnings will peak, so it prefers to remain patient.
Copyright (c) 2023 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.