Legrand: Credit Suisse cuts target price
(CercleFinance.com) - In a sector report on capital goods, Credit Suisse has maintained its neutral rating on the Legrand share.
The broker has cut its target price for the share from 71 euros to 57 euros (about -20%), although this still suggests upside potential of around 12%.
Analysts have reviewed their macroeconomic scenarios for the different parts of the sector: in 2019, Credit Suisse expects different markets to vary by -2% to +1%, before picking up (+2% to +3%) in 2020, these forecasts are lower than previous expectations. As a result, earnings estimates have automatically suffered.
Credit Suisse generally expects the sector players be "much more cautious" in their outlooks when they publish their annual accounts in due course.
Analysts favourate stocks ("outperform" ratings) include Sandvik, Assa Abloy, Alfa Laval, Konecranes, Electrolux and Prysmian.
Copyright (c) 2019 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.
The broker has cut its target price for the share from 71 euros to 57 euros (about -20%), although this still suggests upside potential of around 12%.
Analysts have reviewed their macroeconomic scenarios for the different parts of the sector: in 2019, Credit Suisse expects different markets to vary by -2% to +1%, before picking up (+2% to +3%) in 2020, these forecasts are lower than previous expectations. As a result, earnings estimates have automatically suffered.
Credit Suisse generally expects the sector players be "much more cautious" in their outlooks when they publish their annual accounts in due course.
Analysts favourate stocks ("outperform" ratings) include Sandvik, Assa Abloy, Alfa Laval, Konecranes, Electrolux and Prysmian.
Copyright (c) 2019 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.