Legrand: Morgan Stanley upgrades stock

(CercleFinance.com) - On Thursday Morgan Stanley upgraded Legrand shares from 'equal weight' to 'overweight', believing that Legrand remains one of the few quality names in the sector.


The broker points to an 'undemanding' valuation, given that organic growth should accelerate to around 5% over 2025-2026, driven by its home equipment businesses.

In particular, the analyst expects the electrical equipment manufacturer to be more optimistic than expected about its margin targets at its Investor Day on 24 September, while emphasizing its data center activities.

It has therefore raised its target price for the stock from E100 to E110.


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