Barclays Upgrades Schneider, ABB; Cuts Legrand, Rexel

Barclays raised Schneider Electric to Overweight, lifting price target to €305 from €270.
ABB upgraded to Equal Weight with target increased to 67 CHF from 51 CHF, citing LNG‑driven energy capex.
Legrand and Rexel downgraded as construction exposure faces pressure from rising bond yields and inflation.
Barclays expects sustained infrastructure capex in energy, grids and AI data centers, forecasting AI hyperscaler spend up to $1 trillion by 2028.