Momentum Building for Saint Gobain in Q3; Raising FVE to EUR 46
After reviewing Saint Gobain’s third-quarter revenue release, we are maintaining our no-moat rating but increasing our fair value estimate to EUR 46 from EUR 44 on the back of a faster-than-expected recovery in the flat glass segment. Shares are moving toward our fair value estimate, but we still see about 15% upside.We have been expecting a recovery in the flat glass business, given that significant industry capacity has been shuttered in recent years, but our forecast was for a measured pace ...
Compagnie de Saint-Gobain manufactures, produces, and distributes industrial materials. Co.'s activities are divided into four sectors: Innovative Materials (Co. makes, processes and sells glass and glazing products for the building, the automotive and solar energy industries; Co. also manufactures Ceramics and Plastics, Abrasives, and Textiles), Construction Products (Co. offers products for the Insulation, Gypsum, Exterior Products, Pipe and Industrial Mortars), Building Distribution (Co. distributes building materials (plumbing, heating and sanitaryware products) and ceramic tiles), and Packaging - Verallia (Co. manufactures glass containers and jars for foodstuffs and beverages).
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