Schneider Electric heads into a UBS investor conference in London on Tuesday with its 2026 financial targets raised and its share price well below where analysts think it should be, giving management a clear story to tell and a testing audience to tell it to.

The French energy technology group is scheduled to attend the UBS European Conference on Tuesday 10 November, according to a report published on Sunday. The event comes after Schneider reported record third-quarter revenue of 11,460 million euros on 16 October, up 16.9% organically on the same quarter last year, and lifted its full-year targets for a second time in 2026.

Energy Management, the larger of its two businesses, grew 18.8% organically in the quarter, while Industrial Automation advanced 8.1%. The company now expects organic revenue growth of 12% to 14% for the year, with adjusted EBITA growing 18% to 21% organically and the margin expanding by 100 to 120 basis points to between 19.7% and 19.9%. Data-centre demand has been the main driver, with the company saying demand from big cloud customers more than doubled and should stay strong into the fourth quarter.

The shares have not kept up with the numbers. Schneider closed in Paris on Friday at 228.65 euros, up 0.35% on the day, and a Sunday quote on Lang & Schwarz put the stock at 228.20 euros. That is near the bottom of its 52-week range of 220.40 to 312.30 euros, and the stock has fallen about 3.8% over the past week and about 14% over the past month as a global sell-off in AI and semiconductor shares spread across European markets.

Analysts, on balance, still back the stock. According to StockAnalysis, 23 analysts rate Schneider a buy on average, with a 12-month price target of 323.48 euros, about 41% above the latest close. A separate consensus tracked by Longbridge put the target at about 48.8% above the close, with two firms rating the stock a buy and one overweight. Bernstein turned constructive during the week on data-centre expansion driving demand for power equipment.

Not everyone is convinced. Erste Group downgraded the stock to hold from buy, arguing that the recent acquisition of US software firm PTC increases the likelihood that growth momentum will slow. Schneider agreed in October to buy PTC for about 22.6 billion dollars in cash, its biggest deal to date, and investors are likely to press management on Tuesday about how the purchase will be paid for and integrated.

Chief executive Olivier Blum has told CNBC he sees demand for AI infrastructure remaining very strong until at least 2028, a view the company will need to defend if the recent sell-off in AI-exposed shares continues. The group's full-year results are scheduled for 18 February 2027, so Tuesday's conference is the main chance for investors to test the story before then.