Rexel stock gets a higher Morgan Stanley target

Published on 10/08/2026 at 09:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rexel stock now carries a EUR 42 target after the EUR 41 level. H1 2026 sales reached EUR 9,988.9 million, up 2.2 percent year over year.

Aquarellmalerei der Pariser Skyline mit Seine und Wolkenkratzern — Aquarellbild der Pariser Skyline symbolisiert den Firmensitz von Rexel S.A. (FR0010451203) nahe Paris, Illustration mit AI erstellt.

Rexel stock (ISIN FR0010451203) now has a Morgan Stanley price target of EUR 42, raised from EUR 41 on October 6, 2026. The bank also assigned an Overweight rating, while the stock was trading at EUR 33.74 on Euronext Paris on October 8, 2026.

Target rises as financing weighs

According to Ideal Investor on October 7, Morgan Stanley lifted its target from EUR 41 to EUR 42 and changed its rating to Overweight on October 6. At the October 8 price of EUR 33.74, that target stands 24.5 percent above the stock.

The target increase comes against a more demanding financing backdrop. GlobeNewswire reported that Rexel launched a capital increase of approximately EUR 500 million on September 28, 2026, to help finance its acquisition of GCG.

First-half figures strengthen the case

Trivano reported that Rexel generated EUR 9,988.9 million in first-half 2026 sales, up 2.2 percent from EUR 9,775.3 million in first-half 2025. Second-quarter sales reached EUR 5,252.0 million, up 6.1 percent on a reported basis and 6.7 percent on a comparable, same-day basis.

Adjusted current EBITA rose 9.8 percent to EUR 614.8 million in the first half, lifting the adjusted EBITA margin to 6.2 percent from 5.9 percent. The result included a non-recurring copper effect, so the adjusted measure is the cleaner gauge of operating progress.

Net financial debt reached EUR 3,321.9 million on June 30, 2026, up EUR 690.4 million from December 31, 2025. That increase explains why the capital raise and the planned GCG transaction matter alongside the stronger operating figures.

Stock stays below its yearly high

Rexel stock was trading at EUR 33.74 on Euronext Paris at 9:10:26 a.m. CEST on October 8, 2026, down EUR 0.66 or 1.92 percent from the prior close. The day range was EUR 33.69 to EUR 34.19, while the 52-week range was EUR 27.74 to EUR 39.80.

Rexel's investor calendar lists Q3 2026 sales for October 22, 2026, keeping the next operating checkpoint close to the current analyst debate. The company reports through Euronext Paris under ticker RXL and is included in the CAC Next 20 and SBF 120 indices.