Saint-Gobain: Barclays raises target price

(CercleFinance.com) - Barclays has reinstated its 'overweight' recommendation on Saint-Gobain, which remains its 'top pick' in the European building materials sector, with the broker increasing its target price for the share to 63 euros (approx.
current price: 51.7 euros, +2%).

The broker expects strong Q1 2021 revenues, reflecting stronger end markets and pricing momentum, which has led it to raise its 2021-23 EBIT estimates by 3%, to a level that is now 11% above the 2021 consensus.

"The stock is one of the cheapest options on the EU renovation wave, and current value overlooks the company's transformation and earnings power," it said.



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