Schneider Electric: new top pick for Berenberg

(CercleFinance.com) - Berenberg announced Friday that it is making Schneider Electric its new top pick within the industrial equipment sector, after downgrading Siemens shares.


"We are more optimistic than consensus about the growth algorithm for Schneider Electric ahead of receiving its 2023 guidance," the broker said.

"Our longer-term bullish stance is unchanged and, given the too-low consensus expectations, we remain bullish in the near term too, at least relatively," it adds.

Berenberg maintains its buy rating on the stock, while trimming its target price for it from 200 euros to 195 euros.


Copyright (c) 2023 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.