04:35 AM EDT, 10/28/2026 (MT Newswires) -- Berenberg lowered its price target and earnings estimates for Compagnie de Saint-Gobain (SGO.PA) after the French building materials group published its third-quarter sales results. "While we slightly lower our forecasts, we think the company continued to deliver a solid performance against what remains a challenging market backdrop with regard to both demand patterns and cost pressures. We note the positive price-over-cost spread in FY26 (albeit marginal) as testament to its focus on this matter, while we think the company is confident of achieving this positive spread again in 2027. We note that macroeconomic pressures need to ease for the stock to regain meaningful earnings momentum, but we see valuation as attractive in the mid-term," analysts said Wednesday. Saint-Gobain posted third-quarter sales of 11.62 billion euros, up 1.8 year over year and up 2.5% on a like-for-like basis. The research firm noted that the like-for-like growth was primarily price-led, while the sales result was consistent with company-compiled consensus. The company also kept its full-year 2026 guidance for an EBITDA margin exceeding 15% and now expects like-for-like sales growth in the second half, revised from its previous general "sales growth" outlook. To account for slightly lower margin projections, Berenberg analysts trimmed their EBIT forecasts for 2026, 2027, and 2028 by 1%, 2%, and 3%, respectively. Accordingly, Berenberg also reduced its price target to 85 euros from 95 euros, while reiterating its buy rating.

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