The stock ended the day in the green, benefiting from a positive analysis.

Berenberg announced on Friday that it was making Schneider Electric its new 'top pick' within the industrial capital goods sector, after downgrading its recommendation on Siemens.

'We are more optimistic than the consensus regarding Schneider Electric's growth trajectory ahead of the announcement of the group's outlook for fiscal 2023', explains the financial intermediary in a note.

Our favorable opinion on the long term remains unchanged, but in view of these overly low market forecasts, we are now optimistic on the short term too, at least in relative terms', it continues.

Berenberg maintains its Buy recommendation on the stock, while revising its price target downwards, from €200 to €195.

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