Rexel: Berenberg initiates coverage - says 'buy'

(CercleFinance.com) - Berenberg has initiated its coverage of the Rexel share on Thursday with a buy rating and a target price of 15 euros (current price about 11 euros).


While it believes that the trend towards "disintermediation" is a legitimate threat to the French distributor of electrical supplies, the broker also considers that the group should benefit - at least in the medium term - from increased demand for electrical products.

At the same time, the group's efforts to become a "smarter" partner through the use of digital tools should help to sustain its profit margins, Berenberg says in its sector comments.


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