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Rexel: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse maintains its "neutral" rating on the Rexel share, despite raising its corresponing target price from 10 euros to 11.
5 euros, stating that analysts "await a more attractive entry point" for the electrical supply distributor's stock.

While reducing its 2020-22 EPS estimates by 3.5% after H1 results, the broker sees "evidence of Rexel's resilience through the downturn" and expects it to "emerge stronger" from it.

"We see scope for the company's market positioning to improve structurally as its digital investments pay off," the broker continues, although it believes that the consensus expectations already reflect this.


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