FT: Pilkington lower, Goldman downgrades on poor earnings climate

Shares in Pilkington PLC lost ground in weak midmorning trade, in the wake of a ratings downgrade from Goldman Sachs, which blamed a deteriorating earnings climate for their move, dealers said.

The US broker downgraded Pilkington - glassmaker to the automotive and building products industries - to 'market underperformer' from 'market perform'. However, it retained its 12-18 month price target of 85 pence on Pilkington.

Goldman says Pilkington is vulnerable to slumping consumer sentiment, and the consequential squeeze on volumes, due to its exposure to the automotive and residential construction sectors.

This will also be pressure on glass prices and Pilkington's margins, it added.

Even more worrying for Pilkington, the broker recommends its clients switch to Lafarge Corp, on which it has a price objective of 129 eur.
......More information available on the source link below

600450 FT: Pilkington lower, Goldman downgrades on poor earnings climate glassonweb.com

See more news about:

Others also read

"Right product, right place" - this is the motto of the NSG Group's trade fair presence at BAU 2019.
At this year’s FENSTERBAU FRONTALE, Peter Schober, who heads the Department of Structural Engineering and the Windows Division of Holzforschung Austria (HFA) in Vienna, discussed his latest research in the area of “vacuum glass”.
Pilkington United Kingdom Limited, part of the NSG Group, has launched Pilkington Optimirror™ Protect Plus, a new safety mirror that provides enhanced safety capability without the need for secondary processing.
Topglass has completed works on project Bon Secours for Nautic.
The Charnock Bradley Building is the centrepiece of the University of Edinburgh’s expanding Easter Bush Campus eight miles south of the city.
A bright future is ahead for glass, thanks to a serious focus on innovation, the environment, and sustainability, the industry’s annual prestige awards ceremony at the Millennium Gallery in Sheffield heard. (Thurs 22 November).

From industry

Add new comment