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Schneider Electric: Oddo BHF raises target price

( - Oddo BHF reaffirms its "buy" rating on the Schneider Electric share, having raised its corresponding target price from 110 euros to 123 euros, considering that the future European taxonomy should benefit groups like it.

The broker underlines that 70% of Schneider Electric's revenues is already "green" and enables its clients to save 40 Mt CO2 on average each year, which it says is equivalent to 8.3 billion euros of "hidden green value" (15 euros per share).

In addition to this ESG impact, the group should see a clear rebound in its results in 2021-22, with free cash flow having crossed a new threshold confirming the change in status that is underway, the analyst adds.

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