Legrand: Barclays initiates coverage with overweight rating
(CercleFinance.com) - Barclays has began to monitor the Legrand share with an "overweight" rating and a target price of 81 euros, which it says is "one of the highest-quality Electrical names" and is trading at a significant discount relative to its peers.
It adds that "Legrand's pure-play focus on the Low Voltage market has enabled it to achieve high market share, pricing power and a strong cash profile to fund its inorganic growth".
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