(CercleFinance.com) – Legrand shares recorded the largest increase in the CAC 40 index on the Paris Stock Exchange on Thursday thanks to a favorable recommendation from Morgan Stanley analysts.
Around 11:30 a.m., the stock rose 1.8%, compared to a gain of 0.6% for the CAC and a decline of 0.2% for the index of the European industrial sector, the STOXX Europe 600 Industrials.
Morgan Stanley, which raised its recommendation on the stock from ‘line weight’ to ‘overweight’, believes that Legrand remains one of the few quality names in the sector.
The design office also highlights an ‘undemanding’ valuation knowing that its organic growth should accelerate to around 5% over the period 2025-2026, driven by its activities in the home and data centers.
Its price target therefore increases from 100 to 110 euros.
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