Saint-Gobain shares climb back above their MM20, up 2.5% intraday
The building materials manufacturer ranks among the best performers of the CAC 40, in a well-oriented Parisian market at the close. Two brokerage firms nevertheless lowered their price targets this week, and the stock remains well below its long-term averages.
A rebound that brings the share price back above its MM20
Saint-Gobain shares gain 2.28% to €68.16 intraday, while the CAC 40 rises 1.18%. This move places the stock among the largest gainers of the index and brings it 2.73% above its MM20, at €66.35.
The stock had fallen nearly 2% the previous day, sliding toward its €64.76 support. It nevertheless remains 3.62% below its MM50 and 11.11% below its MM200, illustrating the extent of the decline over recent months: -10.97% over three months and -23.38% over one year.
Today's gain partly offsets this decline without fully compensating for it, especially as the stock is still down 3.32% over one month. The rate environment remains challenging: the French 10-year OAT stands at 4.89% according to the Banque de France data of October 29, with a spread of 1.53 points over the Bund.
Two price targets lowered, with the target still far from the share price
On the analyst side, analyst ratings from today and yesterday point in the same direction. Morgan Stanley lowered its target from €104 to €101 today, with an overweight rating. JP Morgan cut its target from €95 to €93 yesterday, maintaining the same rating.
Even the lowest targets remain well above the current price of €68.16. These revisions follow the publication of third-quarter revenue on October 27: €11.6 billion, up 2.5% on a comparable basis, with prices up 3.2% and volumes down 0.7%.
The group confirmed its EBITDA margin target of above 15.0% for 2026. The next technical level to watch is the MM50, at €70.72.
