Schneider Electric shares were one of the biggest decliners in the CAC 40 index on Monday morning on the Paris Bourse, with RBC expressing concern about the company's ability to achieve its ambitious targets.

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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