Prices were up 2.0% in 9m 19 and up 1.4% in Q3 19, namely a deceleration, but possibly justified by a less inflationary cost environment. In our view, the company should roll-out divestments of more than €20bn of sales. Following this earnings release, we expect to raise our target price which might trigger a change in recommendation.
04 Nov 2019
9m 19: 3.4% organic growth but asset rotation remains too low
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9m 19: 3.4% organic growth but asset rotation remains too low
Compagnie de Saint-Gobain SA (COD:LON) | 7,010 -7360.5 (-1.5%) | Mkt Cap: 35,502m
- Published:
04 Nov 2019 -
Author:
Felix Brunotte -
Pages:
3
Prices were up 2.0% in 9m 19 and up 1.4% in Q3 19, namely a deceleration, but possibly justified by a less inflationary cost environment. In our view, the company should roll-out divestments of more than €20bn of sales. Following this earnings release, we expect to raise our target price which might trigger a change in recommendation.