(CercleFinance.com) – Legrand shares recorded the largest increase in the CAC 40 index on Wednesday on the Paris Stock Exchange, benefiting from the increased optimism of Berenberg analysts on the electrical equipment manufacturer.
In a long study devoted to industrial stocks, the German analyst indicates that he has raised his recommendation on Legrand from ‘hold’ to ‘buy’, with a price target raised from 95 to 110 euros.
In its note, the financial intermediary justifies its increase by the potential for good surprises vis-à-vis the forecasts established by the consensus and by the relative underperformance recently displayed by the stock.
From his point of view, Legrand is particularly interesting to play as a player in the data center market, an ignored business but which represents 15% of its turnover, at a time when its growth has recently been penalized by its exposure to the residential segment, where it is more present than its peers.
At the end of the morning, the stock increased by 1.8%, while the CAC nibbled less than 0.1%.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
