Schneider Electric price target raised to EUR 200 from EUR 190 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Schneider Electric to EUR 200 from EUR 190 and keeps a Buy rating on the shares. The firm notes Schneider beat on organic growth by 2pts in Q4 and guided for 6%-8% growth in 2024, in line with its expectations. Deutsche would, however, caution that the group’s backlog has much longer delivery times than in the past and therefore offers lower visibility than it looks at first glance. On a more positive note, the firm sees upside potential to margins.