(News Bulletin 247) – Oddo maintains its ‘neutral’ rating on the Legrand share with an unchanged price target of 86 euros.
‘Legrand should publish a relatively solid Q1, both in terms of revenue growth and adjusted EBIT margin’ estimates the analyst who anticipates organic revenue growth of 4.3%, of which -1.2 % of volumes and 5.5% impact on prices.
According to Oddo, the group should confirm its 2023 guidance, i.e. organic growth of -1/+3% and an adjusted EBITA margin of around 20%, before the impact of acquisitions and Russia.
‘We have left our estimates broadly unchanged and anticipate organic revenue growth of 0.8% for 2023 and an adjusted EBITA margin of 19.7%’, announces the broker.
Oddo adds that he will be ‘attentive to comments during the conference on trends, in particular on DYI, but also by region, as well as on possible new acquisitions’.
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