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Legrand: Berenberg initiates coverage with buy rating

( - Berenberg has started to monitor the Legrand share on Thursday, adopting a buy rating, with a target price of 80 euros: the broker considers the French group as a beneficiary of the energy transition and the digitisation of electrical installations.

"Legrand is a great business that's simple for investors to understand with market leading positions in the low voltage product segments with seemingly unshakable margins," analysts say.

"The company should benefit from all the demand drivers seem across the group in the aftermath of Covid-19," Berenberg continues in its report.

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