(News Bulletin 247) – AlphaValue announced on Tuesday that it has raised its recommendation on Rexel shares, raised to ‘accumulate’ against ‘reduce’ so far, with a price target raised from 23.5 to 24.7 euros.
In a research note, the design office supports its optimism by the better than expected half-year results published by the distributor of electrical equipment, but also by the upward revision of its annual objectives.
The Parisian firm also evokes the favorable effects linked to the massive adoption of electrification.
‘We believe that Rexel should continue to benefit from the strength of the demand for electrical equipment due to the rise of green energy and energy efficiency’, he explains.
AlphaValue adds that the French group should be able to continue to pass on inflationary pressures to the prices charged to its customers due to the high level of expertise of its teams.
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