Kepler Cheuvreux cuts 'suitable price' Legrand to 'hold'

Legrand SA

24/02/2026 08:05

** Kepler Cheuvreux downgrades French electrical equipment maker Legrand LEGD.PA to "hold" from "buy", stating the stock is now at a "suitable price"

** Legrand's growth strategy using the data centre market as a pillar is delivering, but the stock's high valuation multiples already reflects buoyant growth prospects, broker says

** It sees cyclical recovery in European constructions in the second half 2026 and resilient cash generation supporting the group's underlying business

** The stock has gained over 20% in a year, reaching over 40 billion euros of market capitalisation as of last close

** Out of 21 analysts that cover Legrand, 13 rate the stock "strong buy" or "buy", seven rate "hold" and one rates "strong sell"

(Reporting by Leo Marchandon in Gdansk)

((leo.marchandon@thomsonreuters.com))