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Rexel: stock up as BofA raises TP

( - Rexel's shares were one of the strongest performers on the SBF 120 index on the Paris stock exchange on Thursday, thanks to comments from Bank of America, which raised its target price for the electrical equipment distributor.

In a sector report, BofA, which praises the group's ability to pass on its cost increases in its sales prices, emphasises the momentum of the company's business at the end of last year, in particular thanks to the strength of the American market.

The broker has therefore nudged up its target price for the share from 21 euros to 22 euros, while maintains its buy rating on it.

At 2.30pm, the share price was up 1.6%, while the SBF 120 index was down 0.1%.

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