(CercleFinance.com) – Rexel shares recorded one of the biggest increases in the SBF 120 index on the Paris Stock Exchange on Monday morning, thanks to a favorable note from Berenberg which raised its target on the distributor of electrical equipment.
In a study, the financial intermediary reviews the recent rebound of the stock, which has gained 40% since the end of September, a recovery which according to it shows that long-term investors have regained the upper hand over short sellers, whose However, this strategy seemed to have materialized in the third quarter.
The German analyst, for his part, says he is convinced that the improvement in margins observed in recent years is more ‘structural’ than ‘cyclical’ in nature, which leads him to impatiently await the details which will be provided to the occasion of the June 2024 investor day.
In this context, the broker is raising its earnings estimates as well as its price target, which increases from 27 to 33 euros, with a recommendation maintained at ‘buy’.
At 9:50 a.m., the stock rose by 1.6% while at the same time, the SBF 120 index fell by 0.4%.
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