Schneider Electric: share price falls, RBC downgrades its recommendation
At 9:45 a.m., the energy management and industrial automation specialist's share price was down 0.7%, while the CAC lost around 0.2%.
Analysts at the Canadian bank downgraded their recommendation to 'underperform' from 'in-line performance', with a price target raised to 165 euros from 160 euros.
They say they are concerned about the Group's ability to achieve its target of 7% to 10% average annual organic growth for the period 2023-2027, which has so far been around 3.2% since 2007.
If the Group were to achieve its forecasts, RBC continues, it would be on the strength of its sector, it explains, a prospect already well integrated into share prices, in its view, since Schneider shares are trading at a premium, while Siemens shares are trading at a 25% discount.
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