Goldman Sachs upgrades Legrand stock with EUR 172 target at 2.07 percent above Xetra close

Published on 10/21/2026 at 10:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half sales grew 17.00 percent excluding currency effects. Legrand stock trades at EUR 129.93 on October 21, 2026, 2.07 percent above Xetra.

Analyst signal and reporting date

Goldman Sachs upgraded Legrand from Neutral to Buy and raised its target to EUR 172.00 on October 21, 2026.
Legrand reported an adjusted operating margin of 20.80 percent for the first half of 2026.
Legrand stock trades at EUR 129.93 at 10:06 a.m. CEST at Lang & Schwarz on October 21, 2026, 2.07 percent above the Xetra close of October 20, 2026.

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Legrand stock (ISIN FR0010307819) was trading at EUR 129.93 at Lang & Schwarz on October 21, 2026 at 10:06 a.m. CEST, 2.07 percent above the Xetra close of October 20, 2026 at EUR 127.30. Goldman Sachs upgraded Legrand from Neutral to Buy and raised its price target from EUR 156.00 to EUR 172.00 on October 21, 2026, according to Zonebourse.

Why the target matters

The upgrade puts the latest target 32.35 percent above the current Lang & Schwarz price, calculated from EUR 172.00 and EUR 129.93. The move also arrives before Legrand's next scheduled nine-month results, giving the analyst call a clear near-term reference point.

Legrand's first-half operating profile provides the fundamental backdrop. The company reported sales of EUR 5.40 billion for the first half of 2026, up 17.00 percent excluding currency effects, while organic growth reached 9.80 percent and growth from acquisitions reached 6.90 percent. Its adjusted operating margin after acquisitions was 20.80 percent, according to the company's investor-relations information dated July 29, 2026, published by Legrand.

Three dates frame the story

On July 29, 2026, Legrand reported EUR 5.40 billion in first-half sales and a 20.80 percent adjusted operating margin. On September 28, 2026, its capital-markets-day materials set 2030 annual organic sales growth at 6.00 percent to 8.00 percent and the adjusted operating margin at 21.00 percent to 22.00 percent. On October 21, 2026, Goldman Sachs moved its rating from Neutral to Buy and its target from EUR 156.00 to EUR 172.00, as Zonebourse reported.

When are results due

Legrand's next nine-month results are scheduled for November 5, 2026, according to the company's published investor calendar carried by Zonebourse. That release will test whether the data-center and energy-transition demand behind the first-half expansion is carrying into the second half.

Valuation leaves room for debate

Legrand's market capitalization was EUR 34.4 billion on October 20, 2026, while its one-year range was EUR 121.95 to EUR 166.95, according to MarketScreener. The current euro quotation sits EUR 37.02 below that high, leaving the analyst target dependent on continued execution rather than a return to the upper end of the historical range.

Stock price and next catalyst

Legrand was trading at EUR 129.93 at Lang & Schwarz on October 21, 2026 at 10:06 a.m. CEST, 2.07 percent above the Xetra close of October 20, 2026 at EUR 127.30. The further course of trading is shown by the continuously updated real-time quote of Legrand stock.