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Rexel: AlphaValue double upgrades stock

( - AlphaValue said on Monday that it has upgraded its rating on Rexel directly from "reduce" to "add," having increased its corresponding target price from 17.
5 euros to 20.1 euros, which now represents upside potential of almost 15%.

In its comments, the Parisian broker justifies its upgrade by the electrical equipment distributor's better-than-expected operating performance and favourable trends in its market, which is benefiting from the recovery in global activity.

"We expect Rexel to benefit from robust demand for electrical products given the growing focus on green energy and energy efficiency management," the independent broker says.

In particular, AlphaValue says it is confident in the group's ability to outperform the market, including passing on price increases through its technical expertise and value-added offering.

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