Schneider Electric: Jefferies upgrades underperform rating.
(CercleFinance.com) - Jefferies has upgraded its rating on Schneider Electric from "underperformance" to "hold," believing that the share price's recent fall does not leave enough downside potential to justify a negative rating.
The broker has also raised its target price from 58 euros to 60 euros, after increasing its estimates by 1%-2% after many slight changes (acquisitions, disposals, adverse currency effects).
"Our longstanding view is that Schneider has become a proxy for Industrial Production trends, which was reinforced by the Q2/H1 results." the broker said.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker has also raised its target price from 58 euros to 60 euros, after increasing its estimates by 1%-2% after many slight changes (acquisitions, disposals, adverse currency effects).
"Our longstanding view is that Schneider has become a proxy for Industrial Production trends, which was reinforced by the Q2/H1 results." the broker said.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.