By Pierre Bertrand

Schneider Electric shares jumped after the French energy-management and automation group disclosed its medium-term financial targets.

At 0815 GMT, shares were up 5.4% at EUR158.98.

Schneider Electric said Thursday that it is targeting annual organic revenue growth of 7% to 10% through 2027. It is also targeting an expansion of its annual organic adjusted earnings before interest, taxes and amortization margin by around 50 basis points.

The targets were released ahead of the company's capital markets day on Thursday in London.

The new targets, if linearly applied, imply mid to high-single-digit upside to adjusted Ebitda consensus for the 2024-25 period and between 15% and 20% upside to the adjusted Ebitda estimate for 2026-27, Citi analysts said in a research note.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

November 09, 2023 03:55 ET (08:55 GMT)

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