(News Bulletin 247) – Oddo maintains its outperformance rating on Saint-Gobain shares, with an unchanged price target of 70 euros.
While the 1st quarter results are expected on April 27, Oddo believes that the group should record a Q1 that is “a bit difficult given a high basis of comparison”.
‘We expect Q1 sales of 12,260 ME, up 2.1% (+3.6% LFL: price +9.3%, volume -5.8%). The company’s consensus has not been published but Visible Alpha is counting on a turnover of 12.4 billion Euros close to our expectations,’ indicates the analysis office.
The group’s guidance should remain unchanged, Saint-Gobain is targeting an increase in the operating margin between 9% and 11% and the consensus expects 2023 EBIT of 4.67 billion euros and a margin of 9.4% at the bottom of the range of the guidance of the group. band.
‘We believe that Saint-Gobain has the potential for a good surprise over the year and why not an increase in the consensus earnings outlook probably in H1’, concludes the analyst.
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