Legrand stock among the strongest gains on the CAC 40 following an Evercore rating

Evercore ISI upgrades rating to outperform with a 175 € target

This Friday, Evercore ISI raised its opinion on Legrand to outperform, setting a price target of 175.00 €. Compared to the current price of 143.90 €, this represents an upside potential of nearly 22%. The American firm is thus taking an additional step following a busy week of analyst ratings on the stock: Oddo BHF had raised its target from 150 to 155 € on September 30, while maintaining a neutral opinion, offering a more modest potential of approximately 8%.

The divergence between the two ratings illustrates the polarization of consensus around a stock that has just raised its long-term ambitions. To follow all analyst ratings on Legrand, the available consensus incorporates these two recent revisions in a context where the group presented a strategic roadmap with a 2030 horizon during an investor day in Singapore on September 29, with a target for organic growth of +6 to +8% per year.

The stock consolidates above its three moving averages, resistance at 146.15 € ahead

At 143.90 €, the price is moving above its three moving averages: MA20 at 138.61 € (spread of +3.82%), MA50 at 137.12 € (+4.94%) and MA200 at 140.24 € (+2.61%). This configuration stands in sharp contrast to that of mid-September, when the stock broke through its three moving averages in a single session. The RSI at 53 remains in neutral territory, with no overbought signal despite gains of nearly 7% over the week.

The next resistance zone identified at 146.15 € represents the natural test for the uptrend that has been engaged since the investor day. The CAC 40 is gaining 1.1% in the session, in a Paris market that is holding up despite tension on the 10-year OAT, up to 4.90% on October 1st and at its highest level in the series since 2002, and uncertainty surrounding the adoption of the 2027 budget tabled in the National Assembly.