Compagnie de Saint-Gobain S.A. (CODGF)
- Investing.com
Is a rally in Saint-Gobain stock over? JPMorgan weighs in
JPMorgan adjusted its price target on Saint-Gobain stock, signaling confidence in the company's growth prospects. The financial services firm now sets its December 2025 price target (PT) at €105.
- Yahoo Finance Video
Homebuilding fundamentals remain 'robust': Saint-Gobain NA CEO
Mortgage rates have slowly fallen for the second week in a row, with the 30-year fixed mortgage rate just above 7%. With the potential for mortgage rates to come down further, the housing market may see a bit of a turnaround for homebuyers. However, the supply of homes is still low. Saint-Gobain North America CEO Mark Rayfield (SGO.PA) joins Market Domination Overtime to discuss the state of homebuilding and the broader housing market. On the fundamentals of homebuilding in North America, especially after COVID-19, Rayfield states: "It's still a very robust market. So for the vast majority of building materials, if you look at exterior products and roofing and siding and gypsum and insulation, the market is there, thereabouts at capacity. Not sold out like it was in COVID. But depending on where you are regionally, there could be some supply challenges, not long. So that is another reason I say the market remains quite robust at these housing levels." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
- Reuters
Saint-Gobain sees 2024 double-digit operating margin despite difficult market
(Reuters) -French construction materials group Saint-Gobain on Thursday said it is aiming for a double-digit operating margin in 2024 despite a difficult market that dragged its 2023 annual sales down 6.4%. "In Western Europe, renovations will continue to show resilience, while new construction will remain difficult but will gradually reach a low point country by country, in a market that remains structurally healthy given its construction needs," CEO Benoit Bazin said in a statement. In a call with journalists, Bazin added that there is a "structural unmet need for housing" in Western Europe, North America and Asia, which could reverse the new-construction division's downward curb.
