UBS believes that the stock is "on the way to a multiple revaluation". The analyst confirms his buy recommendation and raises his price target to E83 (from E71), which represents a potential upside of 12%.

' We believe that St Gobain can further reassess its rating as volumes soften and higher margins and yields are maintained' says UBS.

For 2024, Saint-Gobain CEO Benoit Bazin said he was targeting a double-digit operating margin for the fourth consecutive year, 'despite an environment that remains challenging in some markets'.

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