(Boursier.com) — Great rises 2% to 102.30 euros this Friday at the opening, while Citigroup raised its recommendation from ‘sell’ to ‘buy’ on the electrician, as well as its price target to 125 euros, against 85 euros previously . BNP Paribas Exane remains ‘neutral’ on the issue with a target price of 100 euros, while management continues to target organic and acquisition growth in “low single digit” turnover in 2024 with an adjusted operating margin before acquisitions. from 20% to 20.8% and a CSR achievement rate of at least 100% for the third year of its 2022-2024 roadmap…
“As expected, Legrand experienced a fairly weak first quarter due to a slowdown in the construction market, which represents 80% of the group’s turnover, a difficult basis of comparison and a low carryover of price,” explained Bryan Garnier. With the exception of India, all major regions recorded organic declines of between 1 and 5%…
The specialist in electrical and digital building infrastructures published a turnover of 2.03 billion euros over the period, down 5.6% (-5.4% organically vs. 3.65% consensus ). The operating margin stood at 20.5%, compared to 22.2% a year ago and a consensus of 20.8%. “This level of profitability once again demonstrates Legrand’s ability to protect its margins in a context of falling turnover, with intact pricing power and solid cost control,” underlined the group. .
©2024 Boursier.com