Saint-Gobain gains more than 1% in Paris, buoyed by an analysis from Oddo, which maintains its outperform rating on the stock, with a price target raised from 60 to 70 euros.

With 2022 results due to be presented on February 23, the research firm believes that the Group could post "a good Q4", given trends "broadly in line with Q3".

"We expect Q4 sales of 12,746 ME, up 13.5% (+11.0% L/L: prices +13.0%, volume -2.0%) and operating income of 5,265 ME, up 17% on last year', says the broker.

According to Oddo, Saint-Gobain is one of the big winners in the market rebound driven by lower gas prices and less negative macroeconomic indicators.

We remain generally convinced that the changes of recent years have not yet been fully integrated (green deal, sustainable ESG profile, strong pricing power, change in the group's profile via acquisitions and new emblematic disposals)', concludes the analyst.

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