Rexel's Stock Climbs Nearly 2% Targeting the 40€ Mark
The electrical equipment distributor continues its ascent midday in a slightly positive Parisian market. The crossing of a closely watched technical threshold is accompanied by an upward revision of the target price by an intermediary, even as the construction sector remains weak in Europe.
A Technical Breakthrough at 38.62€ Propels the Stock Among the Top Gainers of the SBF 120
Rexel's stock is up 1.83% at 39.03€ during the session, among the strongest gains in the SBF 120. The stock has broken above its resistance at 38.62€ and remains above it, extending a momentum that has been visible in recent weeks with a gain of 7.17% over a month and 48.8% over a year. The price is now above its three moving averages, with a gap of 3.64% from the MM20 (37.66€) and 14.29% from the MM200 (34.15€), while the RSI at 56 remains in a neutral zone that leaves room before overbought. The next round milestone above is at 40€.
BNP Paribas Exane Raises Its Target to 46€ Despite a Deteriorating Construction Sector
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BNP Paribas Exane raised its price target to 46€ on Monday with an outperform rating, representing a potential of nearly 18% compared to the current price. This revision comes in a gloomy sector environment: the construction climate stands at -18.2 in France and -6.0 in the EU as of June 2026, with production down 0.7% year-on-year in France and housing permits down 5.5%. The electrical equipment distributor, exposed to the demand for equipment from the sector, had already benefited from a target upgrade by Jefferies at the end of June, mentioned during a previous session. The stock is now approaching the psychological barrier of 40€, the next immediate milestone.
SectorConstruction et infrastructures›Équipements techniques bâtiment / fluides / distribution spécialisée
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 9 989 millions d'euros
Quarterly revenue: 9 989 millions d'euros
Revenue growth: 2,2 %
EBITDA: 827 millions d'euros
EBITDA margin: 8,4 %
Net income: 340,3 millions d'euros
Free cash flow: 247,3 millions d'euros
3 322 millions d'euros
Guidance from the release
Objectifs 2026 rehaussés ; visibilité accrue grâce à un carnet de commandes record
Risks mentioned
Endettement financier net en hausse de 690 M€ depuis le 31 décembre 2025, à 3 322 M€
BFR opérationnel dégradé à 16,3 % du chiffre d'affaires contre 15,9 % au S1 2025
Effet de change négatif de (2,6)% sur les ventes du semestre
Opportunities identified
Objectifs 2026 rehaussés en croissance et en rentabilité
Ventes digitales à 35 % du chiffre d'affaires, en hausse de 160 bps
Plan stratégique Axelerate 2028 et stratégie active d'acquisitions (TC 360, Revere, DEE)
Outlook / guidance
Expected revenue: 20 385 millions d'euros
Management commentary: Une croissance des ventes à jours constants d'environ 5% (vs 3 à 5% initialement) ; Une marge d'EBITA courant ajusté 1 d'au moins 6,2% (vs environ 6,2% initialement) Une conversion du free cash-flow 2 supérieure à 65%
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.
