Among the worst declines in the CAC 40, Legrand shares fall 3% despite raised targets

A decline of 3.1% in trading that keeps the stock above its three moving averages

The Legrand share is down 3.1% to €143.80, while the CAC 40 is losing 1.05% and the SBF 120 around 1%. In the Paris index, the stock is among the largest declines, behind Société Générale, STMicroelectronics and ArcelorMittal. The decline follows a difficult session on Monday, then a rebound on Tuesday, when the price briefly broke through the €146.15 resistance level before falling back below it.

Today, the stock has fallen back below the €148.40 threshold that marks the top of its recent range, but it remains ABOVE its MA200 at €140.55 (a difference of 2.31%), which limits the technical scope of the movement. The RSI at 64 is not in a tension zone, suggesting a simple deflation after the recovery of recent weeks rather than a trend reversal. Over one month, the stock is up 2.06%, and over one week +0.52%.

Jefferies and Alphavalue raise their price targets from €168 to €170 and from €147 to €173

Two analyst opinions came out in recent days. Jefferies, which remained on a buy rating, raised its target from €168 to €170 on October 7, representing a potential of approximately 18% compared to the current price. The day before, Alphavalue made a more significant move: the broker changed from "reduce" to "accumulate" and raised its target from €147 to €173.

These increases add to those published in late September, following the raising of the group's 2030 targets, which aim for organic growth of 6 to 8% per year. The two targets from today are well above the current price, and the stock remains at this stage more than 3% below the €148.40 resistance level.