In a report released today, Tobias Woerner from Stifel Nicolaus maintained a Buy rating on Compagnie de Saint Gobain (COD – Research Report), with a price target of €106.00.
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Tobias Woerner has given his Buy rating due to a combination of factors that suggest potential growth and value in Compagnie de Saint Gobain’s stock. The company’s recent financial results were largely in line with expectations, with operating income surpassing projections and a robust free cash flow generation. Additionally, the announcement of another share buyback indicates confidence in the company’s financial health and future prospects.
Despite a cautious outlook and guidance, Woerner sees potential for growth driven by the company’s strong exposure to the housing market in Europe, which could lead to volume growth exceeding expectations. While there are some risks associated with the French and North American housing markets, these are viewed as opportunities for buying, especially considering the company’s historical performance and potential for re-rating if housing markets recover more robustly in the latter half of 2025.