Prysmian has gained nearly 4% in Milan, boosted by a recommendation upgrade by Jefferies from 'hold' to 'buy', with a price target raised from €58 to €73. The broker believes that the cable manufacturer remains attractively valued.

We no longer see any risk to 2024 EBITDA from price normalization in electrification and de-stocking in telecoms, and are now focusing on the growth potential of power networks", he adds.

Copyright (c) 2024 CercleFinance.com. All rights reserved.