Bank of America has raised its price target for the electrical supplies distributor.
The broker raises its target price from €21 to €22, with the recommendation maintained at "buy".
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.
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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 
