Nexans posted one of the biggest declines in the SBF 120 index on the Paris Bourse on Friday, penalized by a note from Barclays, which initiated coverage of the stock with an 'underweight' recommendation.

At around 3.30pm, the share price was down 2.3%, compared with a 0.8% gain for the SBF at the same time.

The British bank explains that the cable manufacturer's difficulty in generating cash, the weakness of its order intake in high-voltage products, the weight of its oldest contracts, and the uncertainties surrounding its restructuring and external growth have prompted it to adopt a cautious stance on the stock for the time being.

Its target price stands at 94 euros.

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