Kepler Cheuvreux, Barclays up Legrand on data centre demand

Schneider Electric SE

07/07/2026 08:27

** Barclays and Kepler Cheuvreux upgrade their respective ratings on the French electrical equipment group Legrand LEGD.PA, citing strong data centre demand
** Barclays ups it to "overweight" from "equal weight", while Kepler Cheuvreux to "buy" from "hold", with PTs raised respectively by 16% to €185 and 10% to €170
** Barclays says investors are overlooking Legrand's shift toward higher-growth products and are too bearish on the impact of 800V DC architecture changes
** Kepler expects stronger North American volumes to drive an upward guidance revision ahead of Q2 results, with pricing power supporting margins, while expecting M&A to support growth through 2026
** Barclays also stays "overweight" peer Schneider Electric SCHN.PA on strong end-market demand
** Of the 21 analysts covering Legrand, 11 rate it "strong buy" or "buy," eight "hold," and two "strong sell" or "sell" — LSEG data

(Reporting by Lucie Barbier)
((Email: lucie.barbier@thomsonreuters.com))