Rexel: Barclays initiates as a buyer

(CercleFinance.com) - Barclays initiates a watch on Rexel with an 'overweight' recommendation and a target price of E28, believing that 'concerns about the industrial cycle and the construction market have been taken into account in forecasts for a transitional year 2024'.


The broker also believes that the Group's valuation is 'convincing' and its medium-term potential 'neglected', and points out that 'the share generally outperforms when the short-cycle indicator turns negative, as is currently the case'.


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