Legrand: UBS downgrades 'buy' rating

(CercleFinance.com) - UBS has downgraded its “buy” rating on the Legrand stock to "neutral" and has cut its target price from 73 euros to 62 euros, which now represents upside potential of 5% for the share of the giant in electrical and digital building infrastructure.


The broker says that quality remains, although it is already priced in, given “moderating end-markets,” says the broker, which still sees potential for external growth, although says "sentiment overhang from investigations make us cautious".


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