Legrand Shares Bounce Nearly 2% and Test Their 200-Day Moving Average
The electrical infrastructure specialist is regaining ground this Tuesday mid-session, after several days of decline that had brought it below closely watched technical benchmarks. The rebound is occurring in a Parisian market trending upwards, as CIC Market Solutions has just reiterated its stance on the stock.
A Technical Rebound Begins After a Decline that Brought the Stock to Contact Short-Term Supports
Legrand's stock is up 1.89% at €142.75 mid-session, while the CAC 40 index has gained 0.88%. The stock is among the notable risers in the index, after having lost nearly 9% over a month. The rebound occurs immediately at the 200-day moving average, set at €139.28, which acts as technical support after the breakdown of short-term supports. However, the price remains below the 20-day moving average (€149.58) and the 50-day moving average (€147.94), with a gap of approximately 3.5 to 4.6%. The RSI at 37 reflects recent selling pressure without reaching the oversold zone, leaving the configuration midway between bearish exhaustion and a mere pause.
CIC Market Solutions Maintains Its Target at €167 and the Industrial Calendar Expands
From the analysts' perspective, CIC Market Solutions confirmed on June 8 its 'hold' rating on the stock, maintaining its price target at €167. At current levels, the target offers a theoretical potential of about 17% compared to today's price. Industrially, the group remains actively engaged in external growth: the acquisition of SRS Power Engineering in Malaysia, announced on May 20, marks the fifth completed operation in 2026, following a strategy focused on data centers and energy transition. Over one year, the stock maintains a gain of 30.25%, despite the correction initiated since the historic peak in early May. The 200-day moving average at €139.28 remains the technical level to watch to confirm or refute the ongoing stabilization attempt.
