Deutsche Bank Lifts Saint-Gobain Target

Deutsche Bank lifts Compagnie de Saint-Gobain (12500.FR) price target to EUR60 from EUR56, says the agreed deal to buy BPB (BPB.

LN) "makes compelling financial and strategic sense." Rates at buy, calling it "extremely cheap post BPB" with estimated 20% discount to sector. Says the acquisition "adds a high quality, structural growth product", and is "also likely to lead to the disposal of Saint-Gobain's non-core group businesses." Shares +0.9% to EUR48.80.

600450 Deutsche Bank Lifts Saint-Gobain Target

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