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LR - Legrand SA News Story

€68.96 0.6  0.8%

Last Trade - 4:35pm

Sector
Industrials
Size
Large Cap
Market Cap £16.96bn
Enterprise Value £19.80bn
Revenue £5.99bn
Position in Universe 45th / 852

BUZZ-EU Capital Goods: Balance sheet strength is key - HSBC

Thu 16th April, 2020 11:20am
** HSBC says that balance sheet strength and liquidity
remain essential in the reality of the COVID-19 pandemic and
will become of incrementally greater importance if disruption
from the virus persists through H2 and into 2021
    ** The brokerage says its five "buy"-rated stocks, Epiroc
 EPIRa.ST , Schindler  SCHP.S , Sandvik  SAND.ST , Schneider
Electric  SCHN.PA  and Siemens  SIEGn.DE , show a bias to
quality and balance sheet resilience 
     ** It says even if restrictions ease in the coming weeks,
orders will most likely remain subdued for several quarters,
dampening the prospects of a strong earnings recovery in 2021
    ** According to the broker, Q1 results "may not be
disastrous, but Q2 results will be"
    ** HSBC cuts ABB  ABBN.S  to "hold" from "buy" and lowers
its target price to CHF 18 from CHF 24
    ** The broker cites risks to ABB's share buyback, robotics
exposure to challenged automotive sector and potential delays to
the incoming CEO's plans to drive cultural change   
    ** HSBC keeps a "hold" on Assa Abloy  ASSAb.ST , Atlas Copco
 ATCOa.ST , Kone  KNEBV.HE , Legrand  LEGD.PA , Siemens Gamesa
 SGREN.MC , Vestas  VWS.CO  and Volvo  VOLVb.ST 


 ((marta.frackowiak@thomsonreuters.com))
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