Legrand stock among strongest gainers on CAC 40 following Jefferies rating

A rebound of more than 2% that brings the stock back into contact with its short-term moving averages

Legrand gains 2.04% during the session at €137.35, advancing from a closing basis of €134.60 the previous day. The movement places the stock among the strongest gainers on the CAC 40, in an index up 0.32%. In terms of moving averages, the configuration is tight: the price is trading practically at the level of the 20-day MA at €137.98 (spread of -0.46%) and the 50-day MA at €136.88 (spread of +0.34%), two thresholds that closely bracket current trading levels.

The 200-day MA at €139.92 remains above the price, at a spread of 1.84%, and materializes the main technical obstacle in the short term. The RSI at 45 remains in neutral territory, with no signs of exhaustion or overbought conditions, which leaves room for movement in both directions. Over the week, the gain remains modest at +0.77%, following a gain of 3.12% over the month, while the quarterly decline stands at -5.76%.

Jefferies raises its target to €168, BofA Securities maintains negative stance with target at €139

Jefferies raised its price target on Legrand yesterday from €167 to €168, while maintaining its buy rating. At the current price of €137.35, this represents an upside potential of approximately 22%. The American bank is thus in line with positive views on the stock, in a context where Oddo BHF had also revised its price target last week.

BofA Securities, for its part, marginally adjusted its target from €138 to €139 on September 23, while maintaining its sell rating: the target leaves only a spread of approximately 1.2% compared to the current price, highlighting a notably more cautious view on the stock. These two positions reflect a division of opinion among brokers on Legrand, in an environment where the company raised its 2026 annual targets when publishing its first-half results on July 29, with record growth of +17% excluding currency effects driven notably by data centers. The next investor meeting is scheduled for September 29, during the Investor Day in Singapore.