Legrand jumps after raising mid-term targets

Legrand SA

29/09/2026 09:13

Updates
** Shares in Legrand LEGD.PA up 6.6%, at top of SBF120 .SBF120 after lifting medium-term targets on Monday, driven by stronger-than-expected growth in data centre business
** Firm now expects average organic revenue growth of 6% to 8% per year between 2027 and 2030, up from the 3% to 5% range it had forecast for 2025 to 2030
** Co also sees an adjusted operating margin averaging between 21% and 22% of total sales, versus around 20% in the previous guidance
** JPMorgan sees it as a clear positive news for the shares and the investment case
** "The organic upgrade is broadly where we already sat, but set against management's typical conservatism we think it will be taken well," Jefferies analysts say
** Legrand has been outpacing the 2030 goals since it announced them in 2024, thanks to soaring demand for data centres, which account for a growing share of its revenue, CEO Benoit Coquart told Reuters
** Shares up 13%​ YTD and on track for their best day since August 8

 (Reporting by Mathias de Rozario in Gdansk)
 ((mathias.derozario@thomsonreuters.com))