NEXANS : Credit Suisse lowers its price target
In a note on the European cable sector, the intermediary considers that only Italy's Prysmian is in a position to generate a 5% return on free cash flow (FCF) while increasing its capacity in high-voltage networks.
Credit Suisse explains that it has identified a "structural" imbalance in this segment, forcing transmission system operators to plan ahead for 2026-2031.
The analyst is also optimistic about the medium-voltage installations sector, which he sees growing at an average annual rate of 4% to 7% between now and 2030, driven by electrification, renewable energies and equipment modernization.
On the basis of all these observations, the professional makes Prysmian his "preferred stock" within the sector.
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