Saint-Gobain shares rose on Monday morning on the Paris Bourse, buoyed by a note from Barclays highlighting the French building materials giant's growth prospects.

The share, up over 21% since the start of the year, climbed 0.3% around 9:40 a.m., setting a new all-time high of almost 81 euros, while the CAC 40 index was down slightly (-0.1%).

In a research note, Barclays recommends that investors buy the stock, which it sees potentially rising above the 100 euro threshold.

The research firm points to a combination of favorable factors, including a possible market recovery, improved prices and lower costs, in-house measures and possible acquisitions (M&A) likely to generate synergies.

In its view, the Group could thus be in a position to significantly exceed market forecasts for 2025, even in the absence of a significant upturn in business volumes.

The analyst, who is raising his price target from €87 to €102, maintains his recommendation of "overweight", with strong conviction in the stock.

Copyright (c) 2024 All rights reserved.