JPMorgan keeps Saint‑Gobain and Siemens Energy at Overweight

JPMorgan, the U.S. bank, maintained its Overweight rating for French building‑materials group Saint‑Gobain, setting a target price of €100. The analyst cited improving price‑cost dynamics and margins that should support stronger earnings for European construction‑materials firms.

The bank also left German energy company Siemens Energy at Overweight. The assessment highlighted the upcoming reform of Germany’s Renewable Energy Act (EEG) slated for 2027, which is expected to be significant for wind‑power, high‑voltage cable and energy‑network businesses. Competition in wind‑power auctions through the end of 2026 is projected to remain intense as firms lock in known conditions while awaiting the new EEG rules.