Smart Industries: How to play capital goods stocks in a tense geopolitical context
Smart IndustriesHow to play capital goods stocks in a tense geopolitical context
I – Lasting Geopolitical tensions could significantly impair growth and margins
II – Schneider seems the most resilient player to an economic slowdown
III – Metals, energy and labor inflation to weigh on costs
IV - Currency risks
V- Limited exposure to the Russian and Ukrainian economies
VI – We adjust our risk perception, TP and rating to reflect risks
Legrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).
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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