Schneider Electric: Goldman double upgrades stock

(CercleFinance.com) - On Thursday, Goldman Sachs has upgraded its rating on Schneider Electric shares directly from 'sell' to 'buy', with a 12-month target price raised from E214 to E280.


In its morning study, the broker believes that the stock's valuation is no longer as high as it may have been in the past, and that a rebound towards multiples in line with those of its main peers could materialise.

In its view, the share price's adverse reaction to concerns surrounding capital expenditure in data centers is exaggerated.

We expect Schneider's organic sales growth to significantly exceed that of other players in the sector over the next two years, the analyst points out.

Goldman indicates that the release of Q1 results, scheduled for 28 April, could be the next catalyst for the stock.

The broker says that it downgraded Schneider shares to 'sell' in 2019, amid concerns about the Chinese construction sector and a significant premium to the sector.


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