Nexans: stock up as BofA says 'buy'
(CercleFinance.com) - The Nexans share is up on Friday, after Bank of America upgraded the share, considering that the cable manufacturer's shift towards electrification could lead to its appreciation.
The Nexans share is currently up over 2%, while the SBF 120 index is down about 1%.
In a report this morning, BofA says that it upgraded the share from "neutral" to "buy," raising its corresponding target price from 71 euros to 87 euros.
Bank of America argues that after the divestments planned under its strategic plan, Nexans will benefit from exposure to structurally growing markets in renewable energy, including offshore wind power and power grid modernisation.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The Nexans share is currently up over 2%, while the SBF 120 index is down about 1%.
In a report this morning, BofA says that it upgraded the share from "neutral" to "buy," raising its corresponding target price from 71 euros to 87 euros.
Bank of America argues that after the divestments planned under its strategic plan, Nexans will benefit from exposure to structurally growing markets in renewable energy, including offshore wind power and power grid modernisation.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.