Oddo BHF confirms its 'outperform' opinion on Schneider Electric and raises its target price from 206 to 231 euros, incorporating its new estimates, as well as medium-term growth (2028-34) expected at 4.5%, compared with 3% previously.

Following the publication of the industrial group's 2023 results last week, the research department raised its estimates, now anticipating 6.7% organic sales growth in 2024 and an adjusted EBITA margin of 18.2%.

Oddo BHF sees the supplier of energy management and industrial automation solutions as 'one of the best vehicles in the sector to play the electrification and energy efficiency theme'.

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