(CercleFinance.com) – The title ended the day in the green benefiting from a positive analysis.
Berenberg announced on Friday that he was making Schneider Electric his new favorite stock (‘top pick’) within the industrial capital goods sector after downgrading his recommendation on Siemens.
“We are more optimistic than the consensus regarding the growth trajectory of Schneider Electric before the announcement of the group’s outlook for the financial year 2023”, explains the financial intermediary in a note.
“Our long-term positive view is unchanged but, given these overly low market forecasts, we are now optimistic on the short term as well, at least in relative terms,” he continues.
Berenberg maintains its buy recommendation on the stock, while lowering its price target, reduced from 200 to 195 euros.