Stifel reaffirms its 'buy' recommendation on Saint-Gobain, raising its target price from €68 to €80, as the stock is its 'top pick' in all building and construction sub-sectors for 2024.

'Lower interest rates should trigger new construction in 2024, first in the US, then eventually in Europe too', believes the broker, who also highlights the stimulus linked to the sustainability theme.

More importantly, 2024 should be the fourth consecutive year of double-digit margins and returns for Saint-Gobain, which the market cannot ignore, especially given the significant value on offer', continues Stifel.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.