Oddo BHF reiterates its 'outperform' rating on Saint-Gobain, with an adjusted price target of €80 to €83, believing that at less than six times EV/EBITDA 2024, the stock 'has significant catch-up potential compared with its peers'.

Reviewing the publication of the building materials group's annual results, the research house notes that 'in the end, the CEO was relatively optimistic about the outlook for renovation but also for new housing'.

Overall, Oddo BHF remains convinced that 'the changes of recent years have not yet been fully integrated (green deal, sustainable ESG profile, strong pricing power, change in the Group's profile via emblematic acquisitions and new disposals)'.

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