Saint-Gobain Rises 2.19%, Boosted by Brent's Drop, Marking +7.24% for the Week

Saint-Gobain Gains Over 2% and Moves Above Its Short-Term Moving Averages

Saint-Gobain shares have advanced 2.19% to €79.40, among the strongest gains in the CAC 40 at midday. The stock records a weekly gain of 7.24%, extending a rebound that started last week, after having gained nearly 8% the previous week. The rebound aligns with a persistent easing of Brent, which is down 2% in the session at $91.84 and has lost nearly 17.5% since May 19. The reduction in energy and logistics costs mechanically relieves manufacturers in the materials sector. On a technical level, the price clearly surpasses its 20-day and 50-day moving averages, located at €76.60 and €75.08 respectively, representing a positive gap of 3.66% and 5.75%.

BofA Securities Lowers Target to €110 While Maintaining Buy Rating

From the analysts' perspective, BofA Securities adjusted its price target yesterday from €115 to €110, while maintaining a buy recommendation. The new target implies a theoretical potential of about 38.5% compared to the current price. The session is set in a supportive index environment, with the CAC 40 gaining 0.99% and the SBF 120 advancing 0.96%. Despite the recent rebound, the stock is still trading 5.62% below its 200-day moving average (€84.13), which materializes a still bearish long-term trend (-20.72% over one year, -7.93% over three months). The construction sector's economic environment remains degraded in Europe, with a construction climate of -17.2 in France and -5.2 in the European Union in May. The resistance zone at €81.44 remains the short-term technical reference level.