Citi lifts Legrand, Schneider PTs on AI datacentre outlook, keeps 'buy'

Legrand SA

01/10/2025 14:47

** Citi raises its price targets on French firms Legrand LEGD.PA and Schneider Electric SCHN.PA, on a brighter outlook from AI and datacentre spending; ratings remain "buy"

** For Legrand, broker raises its organic sales growth expectations for 2025-2027 and expects the company to lift its own 2025 guidance in Q3 2025

** Citi also lifts its 2026/27 EBITA forecasts by about 5% for Legrand, raising its price target on the electrical equipment maker to 165 euros ($193.51)

** As for Schneider, broker sees organic sales growth hitting about 10% in 2026 and opens a positive 90-day Catalyst Watch ahead of the company's December investor day

** The broker believes a reversal of analyst downgrades is a key driver for Schneider and increases its price target on the stock to 280 euros

($1 = 0.8527 euros)

 (Reporting by Jérôme Terroy)

 ((jerome.terroy@thomsonreuters.com))