Prysmian: Credit Suisse lays out 'blue sky scenario'.
(CercleFinance.com) - On Tuesday Credit Suisse reiterated its "outperform" rating on Italy's Prysmian, laying out a "blue sky scenario" of 35 euros for the share.
The broker says this upbeat outcome is based on a faster-than-expected cyclical recovery in Europe and Prysmian's margins expanding further in telecoms.
After General Cable announced a strategic review, including a potential sale of the business, Credit Suisse also cites a potential acquisition of the US company, which could add a further 3 euros per share by 2019 according to its estimates.
In the meantime, the broker sets a new target price at 29 euros, which it has nudged up from 28 euros, reflecting the sector's recent re-rating.
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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 broker says this upbeat outcome is based on a faster-than-expected cyclical recovery in Europe and Prysmian's margins expanding further in telecoms.
After General Cable announced a strategic review, including a potential sale of the business, Credit Suisse also cites a potential acquisition of the US company, which could add a further 3 euros per share by 2019 according to its estimates.
In the meantime, the broker sets a new target price at 29 euros, which it has nudged up from 28 euros, reflecting the sector's recent re-rating.
Copyright (c) 2017 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.