Saint-Gobain Kept at Buy as BofA Notes Recent, Upcoming Key Catalysts

BofA Global Research reiterated Compagnie de Saint-Gobain's (SGO.PA) buy rating, noting two recent key events that make the sum-of-the-parts valuation relevant again for the Paris-listed building materials company. Analysts identified the recently announced planned disposal of Saint-Gobain's Dahl specialist distribution business in the Nordics as one of the catalysts, while the other is the rerating of US competitor Owens Corning following news of potential acquisition interest from construction products supplier Carlisle Cos. "Next catalyst for Saint-Gobain should be H1 results on July 30. Despite the expected pressure on H1 results, we believe the confirmation of the FY guidance (EBITDA margin >15%), a much easier base effect in the US in H2 and potential for a progressive housing recovery could make the results a clearing event," the research firm said Wednesday, leaving the price objective unchanged at 110 euros. BofA added that Saint-Gobain is among its "25 stocks for 2026" and Europe 1 list of top ideas.