(CercleFinance.com) – Bernstein raised his opinion on Legrand on Wednesday, changing to ‘outperformance’ against ‘market performance’ so far, with a price target raised from 76 to 92 euros.
The intermediary explains that he changed his opinion on several European industrial and capital goods stocks, believing that it was now time to become positive on the sector again.
After a difficult year 2022 (war in Ukraine, higher energy prices, inflation, rising interest rates, threats of a recession, etc.), Bernstein wants to believe that the worst is largely over for industrial groups of the Old Continent.
He also points out that the sector is usually sheltered from economic downturns, with customer demand for processes to improve their efficiency tending to increase in times of crisis.
The analyst considers that all these elements should favor a revaluation of the sector and raises its recommendation on five stocks, namely Assa Abloy, Dassault Systèmes, Legrand, Schneider and Siemens.
Within the sector, the intermediary now displays seven buy recommendations, three ‘neutral’ opinions and four sell advice.
Copyright © 2023 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
