Legrand's Stock Jumps Nearly 6% Leading the CAC 40
The electrical infrastructure specialist records the highest rise in the CAC 40 in mid-afternoon, in a Parisian market lacking clear direction. The stock mitigates the decline started since its peak in the spring in a single session, with the rebound supported by an upgraded analyst recommendation.
A Significant Rebound that Puts the Stock Above its 20-Day Moving Average
Legrand's stock surged by 5.91% to €146.90, while the CAC 40 only gained 0.18%. The stock leads the index, ahead of Schneider Electric (+2.94%), in a movement that contrasts with the slide begun since the spring peak. Today's increase pushes the price above the 20-day moving average (MM20) of €145.00 (a +1.31% difference) and the 200-day moving average (MM200) of €139.45 (a +5.34% difference), while the 50-day moving average (MM50) at €148.32 remains just under 1% above the current price.
The RSI at 42 moves out of the oversold zone touched last week, without indicating upward tension. Over seven days, the gain is 6.3%, which erases the recent low and brings the three-month performance into positive territory (+6.95%).
CIC Market Solutions Upgrades to 'Buy' with a Target Raised to €170
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On June 15, CIC Market Solutions upgraded its rating on Legrand from 'hold' to 'buy', with a price target increased from €167 to €170. Based on the current price, this target represents a potential upside of about 15.7%. This change in opinion follows a series of external growth operations: the acquisition of Girtz Industries announced on June 10, the sixth operation of the year, and the acquisition of SRS Power Engineering in Malaysia revealed on May 20.
Both targets enhance the group's exposure to data centers and critical infrastructures. This move is part of a deteriorating building environment in France (construction climate at -17.2 in May according to Eurostat), but Legrand is now increasingly deriving revenue from data centers, a segment less correlated with the residential cycle. The next identified milestone: the resistance at €160.10, still nearly 9% away.
SectorMachines et équipements industriels›Équipements électroniques
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 5 400 millions d'euros
Quarterly revenue: 5 400 millions d'euros
Revenue growth: 13,1 %
EBITDA: 1 263 millions d'euros
EBITDA margin: 23,4 %
Net income: 698,2 millions d'euros
5 755 millions d'euros
Guidance from the release
Legrand enregistre un semestre solide avec à nouveau une croissance record de ses ventes de +17% hors change et toujours une excellente rentabilité ; Objectifs annuels 2026 relevés
Risks mentioned
Situation géopolitique et économique qualifiée de « très évolutive » par la direction
Effets de change négatifs, la croissance publiée étant inférieure à la croissance hors change
Dépendance croissante à la dynamique du marché des centres de données
Opportunities identified
Croissance record de +17 % hors change tirée par les centres de données
Sept acquisitions créatrices de valeur dans la transition énergétique et numérique
Nombreux lancements de produits nouveaux dans le cadre du plan stratégique
Outlook / guidance
Expected revenue: 11 140 millions d'euros
Management commentary: sales growth (excluding currency effects) of between +16% and +19% (vs. +10% and +15% previously), comprising organic growth of between +8% and +10% (vs. +4% and +7% previously), and growth through acquisitions of around +8% (vs. between +6% and +8% previously); ■ adjusted operating margin (after acquisitions) of between 20.5% and 21.0% of sales (unchanged)
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
