RXEEY - Rexel Transitioning From Repair To Growth
Although Rexel (RXEEY) (RXL.PA) has a decent enough trailing 12-month return (about 20%), the shares have ended up basically flat since my last update on this large electrical distributor, as internal progress with a variety of turnaround efforts have been offset by end-market deterioration. While management believes they’ve exited the “repair phase” of the turnaround, and I see meaningful growth opportunities in markets like the U.S., the reality is that macro indicators are still mixed and the company is still investing in expanding its digital capabilities.
I still believe that Rexel