Legrand Stock: 1.4% Decline Following Morgan Stanley's Target Increase
Legrand shares lost ground this Tuesday morning, falling by 1.4% to 148.30 euros after reaching 150.40 euros the previous day. This movement comes as two banks have updated their recommendations on the specialist in electrical and digital infrastructures. Over one year, the stock still maintains an impressive gain of 37.57%.
On the eve of this trading session, Morgan Stanley significantly raised its price target on Legrand, from 138 to 156 euros, while maintaining its 'overweight' recommendation. This new target implies a potential upside of about 5.2% from the current price of 148.30 euros. Meanwhile, Deutsche Bank made a more modest adjustment, raising its target from 145 to 148 euros, aligning with the day's valuation, and maintaining a 'hold' rating. These two simultaneous revisions reflect contrasting views: one betting on the continuation of the upward momentum, the other considering that the stock is approaching a short-term equilibrium zone.
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With an RSI at 87, Legrand's stock is in a pronounced overbought territory, a level that historically signals a risk of short-term bullish trend fatigue. This high level results from a strong performance: the stock has risen by 13.77% over three months and 4.58% over the last week, significantly distancing itself from its 50-day moving average, which stands at 130.48 euros. The nearest technical resistance is at 150.40 euros, corresponding to the previous day's closing price. The decline observed this Tuesday morning from this level illustrates the difficulty for the stock to break through this zone. It is worth noting that the next date on the financial calendar is the publication of the first quarter results, scheduled for May 7, 2026, an event that could provide new fundamental insights to market participants.
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.
