Schneider: Oddo still neutral, confirms target price
(CercleFinance.com) - An activist fund has entered Emerson's capital (D.
E Shaw), with the aim of putting pressure on the US group to split its businesses.
Oddo believes that Schneider is also a diverse group (automation, low voltage electrical products, medium voltage, data centers). The broker believes that there are similarities with Emerson, although performance is different.
Oddo says that twice Emerson has reduced its organic growth target this year, while Schneider has increased it. Over 1 year, the Emerson share has fallen by 17%, while the Schneider share has risen by 15%.
At this stage we are not ready to believe in the entry of an activist investor into Schneider's capital, which has the same intensions, Oddo adds.
Oddo therefore confirms its Neutral rating on the share, along with a target price of 76 euros.
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