Shares in Saint-Gobain SA were upgraded to “outperform“ from “neutral“ with a raised price target of EUR 80 from EUR 58 at Credit Suisse, dealers said.
Credit Suisse said it believes the valuatio…
Shares in Saint-Gobain SA were upgraded to “outperform“ from “neutral“ with a raised price target of EUR 80 from EUR 58 at Credit Suisse, dealers said. Credit Suisse said it believes the valuation gap between Saint-Gobain and its peers should start to decline over the next year. It said Saint-Gobain trades at this discount because of its conglomerate-like structure. It believes that as the company becomes a purer building- and construction-focused group, the market will be more willing to re-rate the stock onto a peer group multiple.