Legrand stock retreats by more than 3% and loses the top spot in the CAC 40
Legrand is experiencing a sharp decline on Wednesday, against a backdrop of pressure in the Paris market. The movement follows a Bank of America Securities note that raised its price target on the stock while maintaining a negative opinion, illustrating tensions between analyst views on the security.
A marked decline that brings the stock back to 141.40 €, at the lower end of the CAC 40
Legrand is down 3.25% during the session at 141.40 €, after closing the previous day at 146.15 €. This decline places the stock among the largest losers in the CAC 40, in an index that itself is down 1.83% at midday. Over the week, the stock still maintains a gain of 5.21%, reflecting the rally that had propelled the security to the top of the index on several occasions in recent days.
Today's movement partially erases recent gains but does not erode the monthly balance, which remains slightly positive at +0.86%. On the moving averages side, the price remains above the 20-day MA (138.31 €, difference +2.23%), the 50-day MA (138.17 €, difference +2.34%) and the 200-day MA (139.45 €, difference +1.40%): today's decline has not yet compromised the underlying bullish configuration. The RSI at 64 remains in positive territory without signaling extreme overbought conditions, especially as the MACD displays a positive histogram at 0.91, consistent with a bullish dynamic that is consolidating rather than reversing.
BofA Securities raises its target but maintains its negative opinion on Legrand
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Two recent analyst opinions shed light on the situation. Bank of America Securities raised its price target on Tuesday, September 8 from 121.00 € to 138.00 €, while maintaining a sell opinion on the stock. The revised target remains below the current price (141.40 €), suggesting that the American bank still anticipates a downside potential of around 2.4% from midday levels.
In contrast, CIC Market Solutions reiterated its buy opinion on Monday, September 7 with an unchanged target of 170.00 €, representing an upside potential of nearly 20% from the current price. This divergence between the two firms reflects significant disagreement over the prospects of the Limoges-based group, whose Q1 2026 results (published on May 7, 2026) had revealed a revenue increase of 11.4% but a rise in debt to 4.67 billion €. The support level at 128.70 € remains the key reference to monitor if the decline were to deepen.
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.
