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Last updated : 22/10/2026 - 14h05
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Legrand stock breaks through support at €127.30 and falls 3.5%

The electrical equipment manufacturer for buildings extends its decline in the CAC 40, which is also falling, amid persistent tension over French debt. The stock has just broken through a technical threshold it was defending, following a change of opinion from a major American bank.


Legrand stock breaks through support at €127.30 and falls 3.5%

The €127.30 support gives way and becomes a resistance level for the stock

Legrand loses 3.43% to €126.80 during the session and ranks among the strongest declines in the CAC 40, which fell 1.35%. Early in the session, the price broke through its lowest level in the last 150 sessions at €127.30, a level that now acts as resistance. The stock is trading 10.08% below its 200-day moving average, and its decline has reached 6.32% over one week.

The RSI at 36 remains above the oversold zone, with no signs of selling exhaustion at this stage. The next support level is at €123.60, approximately 2.5% below the current price.

A Goldman Sachs upgrade to buy contrasts with the trading session

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The decline comes as Goldman Sachs upgraded its opinion from neutral to buy on October 21, with a price target raised from €156 to €172. This target implies a potential upside of more than 35% compared to the current price. The stock is trading in a Paris market weighed down by tension over French debt: the 10-year OAT is at 4.99% according to the latest reading from the Banque de France, at its highest level in its series since 2004. The latest reading from the Banque de France dates from October 21, and the €127.30 level will be the threshold to monitor in case of a rebound.



Sector Machines et équipements industriels › Équipements électroniques


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 5 400 millions d'euros
  • Quarterly revenue: 5 400 millions d'euros
  • Revenue growth: 13,1 %
  • EBITDA: 1 263 millions d'euros
  • EBITDA margin: 23,4 %
  • Net income: 698,2 millions d'euros
  • 5 755 millions d'euros
Guidance from the release
  • Legrand enregistre un semestre solide avec à nouveau une croissance record de ses ventes de +17% hors change et toujours une excellente rentabilité ; Objectifs annuels 2026 relevés
Risks mentioned
  • Situation géopolitique et économique qualifiée de « très évolutive » par la direction
  • Effets de change négatifs, la croissance publiée étant inférieure à la croissance hors change
  • Dépendance croissante à la dynamique du marché des centres de données
Opportunities identified
  • Croissance record de +17 % hors change tirée par les centres de données
  • Sept acquisitions créatrices de valeur dans la transition énergétique et numérique
  • Nombreux lancements de produits nouveaux dans le cadre du plan stratégique
Outlook / guidance
  • Expected revenue: 11 140 millions d'euros
  • Management commentary: « sales growth (excluding currency effects) of between +16% and +19% »

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.

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