Legrand: Oddo BHF positive before quarterly trading update
(CercleFinance.com) - Oddo BHF this morning confirms its buy rating on the Legrand share ahead of its Q3 results, which the specialist of electrical systems will publish on 8 November.
The broker's target price of 76 euros suggests upside potential of over 30%.
Even though some uncertainties remain, including growth in France, analysts expect the group to post a 4.1% increase in like-for-like sales in Q3, after 5.2% in H1. Oddo BHF continues to distinguish Legrand for its 'ongoing growth story' - both in organic terms and taking into account acquisitions.
In addition, Oddo BHF says that the group's 2018 target ranges should be tightened, while at present the group expects annual organic growth of 1% to 4% (the consensus expects 4.6%), with an adjusted EBITA margin of 20% to 20.5% (with the market expecting 20.4%).
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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's target price of 76 euros suggests upside potential of over 30%.
Even though some uncertainties remain, including growth in France, analysts expect the group to post a 4.1% increase in like-for-like sales in Q3, after 5.2% in H1. Oddo BHF continues to distinguish Legrand for its 'ongoing growth story' - both in organic terms and taking into account acquisitions.
In addition, Oddo BHF says that the group's 2018 target ranges should be tightened, while at present the group expects annual organic growth of 1% to 4% (the consensus expects 4.6%), with an adjusted EBITA margin of 20% to 20.5% (with the market expecting 20.4%).
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.