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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-Legrand: Energy efficiency exposure to boost growth - GS

Fri 5th June, 2020 7:31am
** Goldman Sachs upgrades French electrical equipment maker
Legrand  LEGD.PA  to "buy" from "neutral" as the recent stock
underperformance offers an attractive entry point to a company
significantly exposed to potential European building renovation
wave 
    ** The brokerage points to the increase of up to 350 billion
euros ($397.08 billion) per year in more energy efficient
building renovation spend suggested by the draft of the EU Green
Deal 
    ** This could bring the company over 2.5 percentage points
of organic growth in its early years, as Legrand's solutions
could enable up to 60% in energy savings across that value
chain, GS adds 
    ** GS adds that Legrand's "long track record of sustaining
high margins through crises" will help deal with the near-term
challenges amid COVID crisis
    
($1 = 0.8814 euros)

 ((olivier.cherfan@thomsonreuters.com))
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