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analysts update recommendations and price targets for major european companies
Analysts have updated their recommendations for several companies, with notable changes including Accor's price target raised to EUR 54 and Legrand upgraded to buy with a target of EUR 125. UBS Group was downgraded to underperform, while Renault's target increased to EUR 68. Other adjustments include Michelin and Ipsen, both seeing target revisions.
ubs maintains sell rating on legrand amid growth concerns
UBS maintains a Sell recommendation on Legrand, citing ongoing short-term cyclical challenges and an unchanged target price of €82. The firm expresses skepticism about the company's organic growth expectations for 2025 and anticipates a 2024 adjusted operating margin of 20 to 20.4%, with low single-digit growth in sales.
ubs maintains sell rating on legrand amid growth concerns
UBS maintains a Sell recommendation on Legrand, citing ongoing short-term cyclical challenges and an unchanged target price of €82. The firm expresses skepticism about the company's organic growth expectations for 2025 and questions the sustainability of its 3-5% growth target. For 2024, Legrand anticipates an adjusted operating margin of 20 to 20.4%, with organic and acquired sales projected to grow slightly in the low single digits.
analysts update recommendations and price targets for major european companies
Analysts have updated their recommendations and price targets for several companies. Notable changes include Jefferies lowering Adecco's target to CHF 29, Barclays reducing Air France-KLM's to EUR 8.50, and Stifel cutting Capgemini's to EUR 225. Rheinmetall's target was raised to EUR 640 by BNP Paribas Exane, while Exosens saw an increase to EUR 28.50 from Bernstein. Other adjustments include reductions for Engie, Legrand, and Solvay, reflecting varied market sentiments.
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