Legrand stock climbs over 6% in a week and erases a large portion of its quarterly decline

Oddo BHF raises its target to €150 on the back of solid half-year results

On Monday, September 21, Oddo BHF revised its price target on Legrand, raising it from €146 to €150, while maintaining a neutral opinion. Compared to the current price of €140.65, this target suggests a potential upside of around 6.6%. This adjustment follows on from the half-year results published on July 29, which had led the group to raise its full-year 2026 targets.

During this H1 2026 publication, Legrand posted record sales growth of +17% on an organic basis, driven in particular by the dynamism of data centers, and highlighted the contribution of seven acquisitions in energy transition and digital transformation. Management nevertheless described the geopolitical and economic situation as "highly evolving," and noted negative currency effects impacting reported growth. An Investor Day is also scheduled in Singapore on September 29, the next concrete milestone on the group's calendar.

A stock that moves back above its three moving averages in a calm market

Legrand is trading at €140.65 in the session, above its three moving averages: the 20-day MA at €137.68, the 50-day MA at €137.06 and the 200-day MA at €139.80. The gap with the latter remains narrow, barely 0.61%, a sign that the breakout is recent and still fragile. The RSI at 52 is in neutral territory, with no overbought signal, which leaves technical room before the resistance identified at €146.15.

Over the week, the stock is up 6.27%, erasing a large portion of its quarterly decline of 7.16%. The market environment remains favorable: the CAC 40 is up 0.2% in the session, the VIX at 14.84 points reflects contained volatility. The next resistance at €146.15 represents the next level to watch before the Investor Day on September 29.