Legrand: Jefferies upgrades stock
(CercleFinance.com) - Jefferies has its upgraded the Legrand share from "underperform" to "hold," having raised its corresponding target price from 63 euros to 68 euros, after it underperformed the SXNP by over 20% since March 2020.
"Our initiation (3-Mar-20) outlined concerns around organic growth (non-resi spend), which now appear appropriately reflected in consensus with FY20-22 and upcoming Q3 figures looking relatively secure".
Jefferies adds that its "new low voltage proxy data for Europe and North/Central America (NCA) confirms current consensus and strong QoQ improvement".
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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.
"Our initiation (3-Mar-20) outlined concerns around organic growth (non-resi spend), which now appear appropriately reflected in consensus with FY20-22 and upcoming Q3 figures looking relatively secure".
Jefferies adds that its "new low voltage proxy data for Europe and North/Central America (NCA) confirms current consensus and strong QoQ improvement".
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.