Legrand SA Raises 2030 Targets on AI Demand

Legrand SA shares rose 7.1% on Tuesday after the French electrical equipment manufacturer raised its sales and margin targets for 2030. The company now expects annual organic sales growth of 6% to 8% between 2027 and 2030, with acquisitions contributing an additional 5% annually.

Legrand is targeting an average adjusted operating margin of 21% to 22% and free cash flow between 13% and 15% of sales. These upgrades are driven by surging demand for higher-capacity power and cooling infrastructure for AI data centers, which the company expects will generate over €3 billion in sales by 2026.

To support next-generation AI requirements, the company plans to develop low-voltage direct-current architectures as data centers scale toward gigawatt levels.