Legrand: RBC still a seller
(CercleFinance.com) - On Thursday, RBC maintained its 'underperform' rating on Legrand shares, with a target price of E87.
The Canadian broker acknowledges that the electrical equipment manufacturer posted 'impressive' earnings growth in Q3, but points out that this performance was more than offset by the current weakness in its more traditional construction markets.
Expecting this momentum to continue in H1 2025, the broker has trimmed (by under 1%) its earnings forecasts for the group.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The Canadian broker acknowledges that the electrical equipment manufacturer posted 'impressive' earnings growth in Q3, but points out that this performance was more than offset by the current weakness in its more traditional construction markets.
Expecting this momentum to continue in H1 2025, the broker has trimmed (by under 1%) its earnings forecasts for the group.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.