Morgan Stanley raised its price target for French electrical equipment maker Legrand to €166 from €160, retaining its overweight rating and top-pick status. The broker increased its 2026-28 earnings-per-share forecasts by 0.7%, 2.1% and 4%, respectively, and expects 10.7% organic growth in 2027. Legrand targets 6%-8% annual organic sales growth and 21%-22% average operating margins from 2027 through 2030, with acquisitions expected to add about 5% to annual sales growth, while Morgan Stanley assumes about 4%. Data centers remain a major driver: Legrand previously raised its data-center growth guidance from around 20% to nearly 30%, expects mid-to-high-teens sales growth through 2030, and sees the business rising from about 32% of group revenue in 2026 to roughly 43% by 2030 before further acquisitions.