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Bank of America has reiterated a Buy rating on French electrical-equipment maker Legrand, maintaining a €145 price target. The bank highlights Legrand's exposure to data centers, accounting for approximately 25% of sales, with expectations for this market to grow at a double-digit rate through 2030.

This growth is anticipated to support low- to mid-single-digit organic growth for Legrand, even if other sectors slow down. Additionally, Bank of America forecasts a 25% rebound in European construction activity by 2026, which could contribute an extra 1%-2% to Legrand's growth.