Legrand stock rebounds, approaching oversold territory with RSI at 34.5
The electrical equipment manufacturer for buildings is recovering at midday, in a CAC 40 oriented upwards. This rebound occurs after a decline of several weeks and a change of opinion from a major American bank.
Goldman Sachs moves from neutral to buy and raises its target to €172
Legrand gains 1.73% to €129.50 in trading, ranking fourth in the CAC 40 while the index advances 0.49%. The movement coincides with Goldman Sachs' change of opinion, published today: the bank moves from neutral to buy and raises its price target from €156 to €172. This new target places the goal at approximately 33% above the current price. However, the rebound remains modest relative to the ground lost on the downside: the stock is still down 5.8% over a week and 11.4% over a year.
A rebound that leaves the stock 6% below its 20-day and 50-day moving averages
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The stock emerges from a series of difficult sessions, marked last week by the loss of the €132.35 support level and by ranking last in the CAC 40 on Tuesday. The price remains below its three moving averages: the gap is 6.12% with the 20-day MA at €137.94 and 8.14% with the 200-day MA at €140.97. The RSI at 34.5 signals a stock close to oversold territory, which gives today's rebound a reading of consolidation after a correction phase. The next test will be the support level at €127.30, which the price has just approached closely and which the stock has maintained so far.
SectorMachines 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.
