UBS has reaffirmed its 'buy' recommendation on Schneider Electric and raised its target price from €207 to €250, a new target that offers 19% upside potential for the French energy management and automation specialist's shares.

The broker highlights 'a double-digit average annual EPS growth rate, underpinned by secular growth drivers and margin expansion', and believes that 'margin targets for 2024 look conservative'.

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