Legrand: Oddo raises target price

(CercleFinance.com) - Oddo maintains its "outperform" rating on Legrand shares, having increased its target price for them from 96 euros to 98 euros.


The broker says that the second quarter should confirm an upturn in most markets. As a result, the broker has raised its estimates, now expecting organic growth of 26.1% in Q2, with a rebound close to 40% in France and Italy.

Analysts say that with organic growth of nearly 19% expected in H1, Legrand will almost have to increase its annual sales growth target, which it already raised in Q1.

In this context, the analyst expects organic growth of 10.1% for 2021, above the consensus of 9.7%.

The share is currently up over 1.3%, just ahead of the CAC 40.


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