Legrand: Oddo BHF still a buyer
(CercleFinance.com) - Oddo BHF has confirmed its buy rating on the Legrand share, as well as its target price of 77 euros.
Indeed, analysts say after returning from a meeting with management that what has made Legrand successful is set to last.
After this meeting with the electrical systems specialist's management, including its new CEO, Benoît Coquart, Oddo BHF analysts retain that in 2018, the group expects sales growth that is "very much in line with (its) growth model". Management expects like-for-like sales growth of between 1% and 4%, against the consensus of 3.5%.
And this only appears to be the start: "In the longer term, (management) believes that Legrand will probably be different from what it is today in 10 years' time, in the same way that it has been able to follow major developments market over the past 10 years (the group now has access to a 115 billion dollar market, the development of connected products, audio-video infrastructures, etc.)."
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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.
Indeed, analysts say after returning from a meeting with management that what has made Legrand successful is set to last.
After this meeting with the electrical systems specialist's management, including its new CEO, Benoît Coquart, Oddo BHF analysts retain that in 2018, the group expects sales growth that is "very much in line with (its) growth model". Management expects like-for-like sales growth of between 1% and 4%, against the consensus of 3.5%.
And this only appears to be the start: "In the longer term, (management) believes that Legrand will probably be different from what it is today in 10 years' time, in the same way that it has been able to follow major developments market over the past 10 years (the group now has access to a 115 billion dollar market, the development of connected products, audio-video infrastructures, etc.)."
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.