Refile: BUZZ-MS names Legrand 'top pick' on earnings growth potential

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28/08/2026 08:40

Refiles to remove extraneous word from headline.
** Morgan Stanley names Legrand LEGD.PA its new "top pick" as the stock's recent underperformance vs peers does not reflect its earnings growth potential
** Shares in the French electrical equipment maker rise 2.6% to €139.95 in Paris morning trade
** The broker says Legrand has de-rated by roughly 20% vs electrification peers, like ABB ABBN.S or Schneider Electric SCHN.PA, despite similar earnings upgrades
** MS ups its PT by 3.2% to €160
** Citing upside to 2027 growth estimates from strong data centre demand and limited risk of order-related disappointment, MS sees Legrand as "as the best of both worlds"
** MS forecasts 2027 EBITA 6% above consensus and sees additional upside from North America margin expansion and a recovery in Europe
** Out of 21 analysts, 13 rate Legrand "strong buy" or "buy", six "hold" and two​ "strong sell" or "sell" - LSEG data

(Reporting by Aleksandra Kret in Gdansk)
((aleksandra.kret@thomsonreuters.com))