Schneider: towards an 'excellent H1' - Oddo still a buyer

(CercleFinance.com) - This morning an analyst at Oddo BHF announced that he is maintaining his Buy rating on Schneider Electric, with a target price of 87 euros, anticipating excellent first-half sales performance.


Schneider pleasantly surprised by its sales momentum in Q1, recording organic growth of 6.2%, despite an adverse effect of the number of working days, Oddo BHF points out.

For Q2 alone, the broker expects 6.8% growth, again driven by its LV (Low Voltage) and IA (Industrial Automation) divisions. By geographic area, China should continue to post double-digit growth in Q2 (albeit less than the +20% growth recorded in Q1), with Oddo expecting organic growth of 4% in Western Europe and 5% in North America. As such, organic growth is expected to be about 6.5% in H1.


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