Schneider: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse has confirmed its buy rating on the share with an increased target price of 111 euros (from 105 euros).
"We leave our operating profit estimates broadly unchanged across 2020-2022... We continue to see an attractive margin and re-rating story in Schneider as the group delivers on its >17% profitability by 2022 (driving 13% EPS growth alone)," the broker says.
"Schneider is trading on 2021E of 19.2x. This on average represents a c6% premium to its European Electricals peers but is a c20% discount to the average of its key US peers," it adds.
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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.
"We leave our operating profit estimates broadly unchanged across 2020-2022... We continue to see an attractive margin and re-rating story in Schneider as the group delivers on its >17% profitability by 2022 (driving 13% EPS growth alone)," the broker says.
"Schneider is trading on 2021E of 19.2x. This on average represents a c6% premium to its European Electricals peers but is a c20% discount to the average of its key US peers," it adds.
Copyright (c) 2020 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.