Legrand share soars more than 7% following guidance upgrade

Leading the CAC 40 with a 7.3% surge, the stock breaks through its moving averages in a single session

The Legrand share gains 7.3% during the session at €144.70, settling well above its three moving averages. The price exceeds the 20-day MA at €137.67 (a gap of over 5%), the 50-day MA at €136.82, and the 200-day MA at €140.00, with the latter level being the most significant after several weeks of consolidation below this threshold. The stock is now approaching its resistance level at €146.15, less than one percentage point away from the current price.

The RSI at 46 shows no overbought configuration, leaving room before potential signs of technical fatigue. Over one month, the stock is up 3.62%, and today's session clearly erases the near-flat quarterly decline (-0.17% over three months). Legrand is leading the CAC 40, ahead of a Paris market that gains only 0.24% during the session.

CIC raises target to €180 following Singapore investor day focused on data centers

The investor day held on Tuesday in Singapore, alongside Data Centre World Asia, was the immediate catalyst for the move. During this event, Legrand presented its upgraded financial targets extending to 2030, with organic growth targeted between +6% and +8% per year, and positioned data centers at the heart of its trajectory. In this context, CIC Market Solutions raised its price target from €170 to €180, while maintaining its buy rating.

This new target represents upside potential of approximately 24% relative to the current price of €144.70. The resistance at €146.15 will be the first barrier to overcome in order to confirm today's momentum.