On Thursday, Rexel shares posted one of the strongest gains of the SBF 120 index on the Paris Bourse, thanks to a note from Bank of America, which raised its price target on the electrical supplies distributor.
In a sector note, BofA, which praises the group's ability to pass on cost increases in its sales prices, highlights the company's dynamic business performance at the end of last year, thanks in particular to the strength of the US market.
Against this backdrop, the broker has raised its target price from 21 to 22 euros, with the recommendation maintained at "buy".
At 2:30 pm, the share price was up 1.6%, while at the same time the SBF 120 index was down 0.1%.
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Rexel is the world's leading professional distributor of electrical equipment. Present in 19 countries, the Group offers electrical products and solutions to professionals for buildings and for residential, industrial, and tertiary infrastructures, through a multi-brand network of 1,972 outlets. The products and solutions marketed by the group are in response to demands for electrical equipment, lighting, security, climate control, communication, industrial automation, and energy savings. The activity is organized around 3 markets:
- tertiary: malls, sports facilities, hospitals, airports, etc.;
- industry: system integrators, production site builders and equipment producers;
- residential: comfort, security, and home automation.
Net sales are distributed geographically as follows: Europe (50.2%), North America (43%) and Asia/Pacific (6.8%).
REXEL 
