Oddo BHF maintains its 'outperform' rating on Nexans shares, with a target price raised from 122 to 130 euros.

As a reminder, Nexans recently announced the completion of its acquisition of the Italian company La Triveneta Cavi, mainly active in low and medium voltage cables.

"We are integrating La Triveneta as of June 2024 (7 months then full year 2025). Our 2024 sales estimate is therefore ME6,983 (vs. 6.6 bn previously), including organic growth of 2.5% and a scope effect of 5%. We are revising upwards our 2024 EBITDA estimate by 6.3% to 746 ME (vs 702 ME previously, +12.2% YoY), i.e. a margin of 10.7% (+50 bp)', says the analyst.

The next CMD (investor day) is scheduled for November 13.

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