Bank of America on Thursday renewed its Buy recommendation and 100 euro price target on Nexans, deeming the 'record' EuroAsia Interconnector contract win an important step in the stock's recovery.

From the analyst's point of view, this order estimated at over 1.4 billion euros represents a 'key moment' for the cable manufacturer, confirming its ambitious targets in high-voltage networks by 2024.

For the intermediary, this agreement also shows that Nexans remains the best possible choice for investors wishing to play the energy transition theme within the cable sector.

Finally, BofA refers to an "attractive" valuation, with the stock currently trading at a discount of around 35% to the sector and underperforming the STOXX Europe 600 sector index by 18% since the beginning of the year.

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