Lehman Brothers began coverage of French building materials group Saint Gobain with an “underweight” recommendation and a price target of EUR 60 (USD 93.13).
The broker said the group“s exposure to …
Lehman Brothers began coverage of French building materials group Saint Gobain with an “underweight” recommendation and a price target of EUR 60 (USD 93.13). The broker said the group“s exposure to emerging markets is weak, only about 15% of the sales, while growth in the company“s mature markets in Europe and North America is slowing down. Lehman Brothers analysts noted that rivals including France“s Lafarge and Switzerland“s Holcim are expected to perform better in 2008 thanks to their greater exposure to emerging markets.
