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Nexans: Credit Suisse lowers target price

( - Credit Suisse announced on Friday that it had lowered its target price for Nexans from 104 euros to 100 euros, while maintaining its "neutral" rating on the stock.

In a report on the European cable sector, the broker believes that only Italy's Prysmian is capable of generating a 5% return on free cash flow (FCF) while increasing its capacity in high-voltage networks.

Credit Suisse says it has identified a "structural" imbalance in this segment, forcing transmission system operators to plan for 2026-2031 today.

The analyst is also optimistic about the medium-voltage sector, which he sees growing at an average annual rate of 4% to 7% by 2030, driven by electrification, renewables and equipment modernisation.

Based on all these observations, the professional makes Prysmian his "preferred stock" within the sector.

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