Legrand: UBS still a seller

(CercleFinance.com) - UBS believes that short-term cyclical headwinds persist.
The analyst confirms his Sell recommendation on the stock, with an unchanged price target of E82.

In the near term, we consider organic growth expectations for 2025 cons. to be stretched, while in the medium term, we increasingly question the viability of the 3%-5% acquired growth target, UBS says.

For 2024, Legrand now anticipates an adjusted operating margin of 20% to 20.4% after acquisitions (instead of 20% to 20.8% before acquisitions), for organic and acquired sales still expected to grow slightly (low single digit).


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