Legrand: Oddo says well placed for US plan

(CercleFinance.com) - Oddo BHF has reinstated its "outperform" rating on Legrand shares, along with a target price of 93 euros, citing it as one of the best placed companies to benefit from the US plan for massive investment in infrastructure and building renovation.


For this plan, which could be announced soon and should at least partially use the 2 trillion dollar proposal of the election campaign, the analyst estimates the impact on EBITDA of its sample of stocks at between 2% and 10% per year.

In line with Assa Abloy, dormakaba and Schneider Electric, Oddo BHF believes that Legrand could stand out in the capital goods sector, highlighting its heavy exposure to the US and the weight of non-residential renovation.


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