Legrand: RBC maintains 'underperform' rating

(CercleFinance.com) - On Thursday, RBC maintained its 'underperform' rating on Legrand shares, with a price target of €87.


In a research note, the Canadian broker acknowledges that the electrical equipment manufacturer posted 'impressive' earnings growth in the third quarter, 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 the first half of 2025, the broker has slightly revised downwards (< 1%) its earnings forecasts for the Group.

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