Legrand rises as data center concerns ease following conference
BUZZ-Legrand rises as data center concerns ease following conference ** Shares in French electrical infrastructure group Legrand LEGD.PA rise 2%, paring earlier gains of more than 3%, with analysts pointing to the management dispelling investor scepticism over its data center positioning at a JPMorgan industrials conference
** JPM analyst Phil Buller says Legrand addressed the key "bear case" linked to its strategic positioning in data centers over the medium term
** Legrand said that current growth in data centers remains very strong and assured it will not end in 2026, according to a JPM note summarizing the conference
** Data center total addressable market for Legrand in the medium term is around €400 billion, the note says
** Shares in Legrand closed 4.5% higher on Wednesday, and rise 16% since the beginning of the year, including today's gains
(Reporting by Mathias de Rozario in Gdansk)
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