Legrand among the biggest gainers on the CAC 40 after its accounts
The electrical equipment manufacturer for buildings is among the best performers on the CAC 40 at the start of the week. The move follows the publication of its nine-month accounts and the upward revision of its annual targets. An analysis firm has just upgraded its opinion on the stock.
A rating upgraded by UBS and upward revised 2026 targets
Legrand shares gain 2.24% to €132.55 at midday, the fourth-largest gain on the CAC 40, which is up 0.36%.
UBS moves from "hold" to "buy" and raises its price target from €160 to €170, representing a potential upside of nearly 28% relative to the current share price, according to the analyst consensus updated this Monday. This opinion comes four days after the group's accounts: on November 5, Legrand raised its 2026 organic growth target to 11-13%, from 8-10% previously, after revenue of €8,329.4 million over nine months, up 19.5%. Seven acquisitions were completed during the period, including Green4T, Kratos Industries and Axel Health.
A rebound that moves back above the 20-day moving average
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The stock stands at €132.55, above its 20-day moving average (MA20) of €130.77, a gap of 1.36%, while it remains below its 50-day moving average (MA50) at €135.73 and its 200-day moving average (MA200) at €141.20. It gains 1.18% over one week but still loses 3.95% over one month, so the rebound only partially recovers the recent decline.
The 50-point RSI is neutral: the session gives no overbought signal. The next upside marker is the MA50, a little over 2% above the current price.
SectorMachines et équipements industriels›Équipements électroniques
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 8 329 millions d'euros
Quarterly revenue: 8 329 millions d'euros
Revenue growth: 19,5 %
EBITDA: 1 950 millions d'euros
EBITDA margin: 23,4 %
Net income: 1 067 millions d'euros
Free cash flow: 1 010 millions d'euros
5 373 millions d'euros
Guidance from the release
« Forts de notre performance depuis le début de l'année, nous relevons nos objectifs pour 2026 »
Risks mentioned
Intégration de multiples acquisitions représentant un défi opérationnel majeur avec calendrier d'intégration étalé.
Impact des mouvements de change négatif (-6,6 M€ de pertes de change au compte de résultat et -588,5 M€ en réserves de conversion).
Augmentation du besoin en fonds de roulement : stocks +315,6 M€, créances clients +458,9 M€ en 9M.
Opportunities identified
Poursuite de la stratégie d'acquisitions ciblées créatrice de valeur avec 7 acquisitions complétées en 9M 2026 (Green4T, Kratos Industries, TES, Keydak, SRS Power Engineering, Girtz Industries, Axel Health).
Croissance du chiffre d'affaires de 19,5% YoY portée par le déploiement des acquisitions et l'intégration en cours.
Amélioration du cash-flow libre à 1 009,5 M€ (12,1% du CA) malgré les investissements d'acquisition.
Outlook / guidance
Expected revenue: 11 472 millions d'euros
Management commentary: « une croissance de ses ventes (hors effets de change) comprise entre +20% et +22% »
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.
