Legrand seen up after raising mid-term targets

By Reuters News

** Shares in Legrand LEGD.PA are seen up 3% to 3.5% in pre-market indications after lifting its medium-term targets on Monday, driven by a stronger-than-expected growth in its data centre business

** It now expects average organic revenue growth of 6% to 8% per year between 2027 and 2030, up from the 3% to 5% range it had forecast for 2025 to 2030

** It also sees an adjusted operating margin averaging between 21% and 22% of total sales, versus around 20% in the previous guidance

** "The organic upgrade is broadly where we already sat, but set against management's typical conservatism we think it will be taken well," Jefferies analysts say

** Legrand has been outpacing the 2030 goals since it announced them in 2024, thanks to soaring demand for data centres, which account for a growing share of its revenue, CEO Benoit Coquart told Reuters

** Up to the previous session's close, shares were up 6%​ YTD

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