LEGRAND - NEUTRAL | EUR90 Legrand 1Q22 results translates strategy focused on pricing power
Pricing power drives 1Q22 organic growth, margins surprisingly resilientFY22 outlook not revised upward despite high pricing effect, reflecting caution on FY22e volumes
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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