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Legrand: leads CAC, as Morgan Stanley more optimistic

( - On Thursday, Legrand shares topped the CAC 40 index on the Paris Bourse, thanks to favourable comments from analysts at Morgan Stanley.

In late morning trading, the stock was up 1.8%, compared with a 0.6% gain for the CAC and a 0.2% decline for the STOXX Europe 600 Industrials index of European industrial stocks.

Morgan Stanley, which has upgraded its recommendation on the stock from 'equal weight' to 'overweight', believes that Legrand remains one of the few quality names in the sector.

The broker also highlights Legrand's 'undemanding' valuation, given that its organic growth should accelerate to around 5% over the period 2025-2026, driven by its activities in the home and data centers.

As a result, it has raised its target price for the share from E100 to E110.

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