FT: Saint Gobain -2.54%

Merrill Lynch upgraded its recommendation for shares in French glass and packaging group St Gobain SA yesterday from "buy" to "strong buy", setting a new share price target of 215 euros.

The US broker has underlined that St Gobain is valued at some 10 per cent to 15 per cent less than construction groups and at between 10 per cent to 50 per cent less than traditional cyclical stocks.Investors do not seem to share the broker's optimism, with St Gobain losing 2.54 per cent to 169.1 euros in Paris yesterday.

600450 FT: Saint Gobain -2.54% glassonweb.com

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