Schneider Electric Leads CAC 40, Eyes Historical Record

Schneider Electric Soars 3.3% Approaching Resistance at €282.70

Schneider Electric's stock rises 3.30% to €278.85 at midday, leading the CAC 40 which has only gained 0.12%. The stock thus significantly outperforms Dassault Systèmes (+2.21%) and Capgemini (+2.16%), other well-oriented technology stocks in the session. This rebound brings the weekly performance to 3.64% and confirms the recovery that began after the mid-May dip.

The movement brings the price close to the immediate resistance at €282.70, a level that corresponds to the peak reached on May 6 following the quarterly publication. Sustained crossing of this threshold would pave the way to the historical record of €287.90 reached on May 7, the day of the annual results. The stock is now trading above its three moving averages, with a nearly 14% gap over the MM200 (€244.34), while the RSI at 52 still leaves room before the overbought zone.

Momentum Supported by Record Quarter and Goldman Sachs Target Upgrade

The fundamental context remains supportive for the Rueil-Malmaison group. The first quarter revenue published in early May reached a record €9.8 billion, with an organic growth of 11.2%, driven by data centers and North America. Following the annual results, Goldman Sachs raised its target to €316, while Morgan Stanley and Bernstein adjusted their targets upwards.

The construction sector in Europe remains fragile (France construction climate at -17.2 in May, production down 3.5% year-on-year), but Schneider Electric's activity mix continues to be driven by demand for digital infrastructure in the United States, where industrial production is still up 1.4% year-on-year. The next identified event is the CEO conference organized by BNP Paribas on June 3, in Paris.