Schneider: towards an 'excellent H1' - Oddo still a buyer
(CercleFinance.com) - This morning an analyst at Oddo BHF announced that he is maintaining his Buy rating on Schneider Electric, with a target price of 87 euros, anticipating excellent first-half sales performance.
Schneider pleasantly surprised by its sales momentum in Q1, recording organic growth of 6.2%, despite an adverse effect of the number of working days, Oddo BHF points out.
For Q2 alone, the broker expects 6.8% growth, again driven by its LV (Low Voltage) and IA (Industrial Automation) divisions. By geographic area, China should continue to post double-digit growth in Q2 (albeit less than the +20% growth recorded in Q1), with Oddo expecting organic growth of 4% in Western Europe and 5% in North America. As such, organic growth is expected to be about 6.5% in H1.
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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.
Schneider pleasantly surprised by its sales momentum in Q1, recording organic growth of 6.2%, despite an adverse effect of the number of working days, Oddo BHF points out.
For Q2 alone, the broker expects 6.8% growth, again driven by its LV (Low Voltage) and IA (Industrial Automation) divisions. By geographic area, China should continue to post double-digit growth in Q2 (albeit less than the +20% growth recorded in Q1), with Oddo expecting organic growth of 4% in Western Europe and 5% in North America. As such, organic growth is expected to be about 6.5% in H1.
Copyright (c) 2018 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.