Legrand de-rating creates buying opportunity, RBC ups stock to 'outperform'

Legrand SA

03/08/2026 09:07

** RBC Capital Markets raises French electrical group Legrand LEGD.PA to "outperform" from "sector perform", saying the recent de-rating has created an attractive buying opportunity
** It says the stock has underperformed the sector by 15 percentage points since late June despite positive earnings momentum and strong Q2 results
** "The shares now trade only in line with the 10-year average, despite a meaningfully improved growth profile," RBC adds
** The pullback offers a chance to increase exposure to a high-margin and highly cash-generative business that "also has a compelling top-line story", the brokerage says
** RBC raises its PT by nearly 7% to €160, modelling a conservative organic sales compound annual growth rate of 6% between 2026 and 2030
** Among the 21 analysts covering Legrand, 13 rate the stock "strong buy" or "buy",​ six "hold" and two "strong sell" or "sell" - LSEG data

(Reporting by Clement Martinot)
((Clement.Martinot@thomsonreuters.com;))