(News Bulletin 247) – Berenberg announced on Monday that it had revised its target for Schneider Electric upwards, raising it from 195 to 200 euros, while reiterating its advice to buy on the value.
After talking with the management of the electrical construction group and with a number of investors since the publication of the annual results last month, the analyst says he has noticed growing antagonism within the financial community, which is largely committed to the cause of the French company.
While market participants want to remain exposed to this market leader, whom they believe is well positioned to take advantage of the energy transition, they also seem to be wondering about the succession process underway at senior management level and about its current market valuation, he adds.
“All things considered, and overall, we remain positive and reiterate our buy recommendation on Schneider, which we still consider our ‘preferred value’ within the sector,” concludes the intermediary.
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