Prysmian: Credit Suisse still on hold, raises TP

(CercleFinance.com) - In its comments on cable makers Credit Suisse maintains its "neutral" rating on Prysmian shares, although has increased its target price for them from 26 euros to 28 euros, expressing a preference for the Nexans stock and Denmark's NKT.


"We estimate that offshore wind cable markets will deliver a CAGR of 10% in 2020-30, and we prefer Nexans (15% of 2021E group EBITDA) and NKT (45%) for their higher exposure to this versus Prysmian (10%)," it said.

More broadly, the broker sees secular growth drivers for sector players, although this is particularly the case for its peers Nexans and NKT.


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