Saint-Gobain upgraded to Buy from Hold at Stifel

Stifel analyst Tobias Woerner upgraded Saint-Gobain to Buy from Hold with a price target of EUR 65, up from EUR 50. The analyst expects the building materials sector to “significantly re-rate” and European construction to start a longer term recovery over the next three years. The re-rating is being led by North American infrastructure exposed stocks, but European renovation and housing exposed light-side names should take over later this and early next year, says the firm.