Legrand slips, traders cite bearish UBS' comments

Legrand SA

11/12/2025 12:03

** Shares in French electrical equipment maker Legrand LEGD.PA fall 2%, paring losses after dropping about 3%, with traders pointing to downbeat comments from UBS

** UBS expects downgrades to come, pointing to very high competition from strong data centre growth and a slower recovery for other divisions

** "Shares have rerated a lot this year (to 17 times EV/EBITA 2026) and could quickly derate if they continue to miss expectations," it says

** Up to the previous session's close, Legrand gained 37% YTD

** Stock is second worst performer among French blue-chips on CAC 40 index .FCHI

(Reporting by Gianluca Lo Nostro and Danilo Masoni)

((gianluca.lonostro@thomsonreuters.com;))