Nexans: share falls, as Barclays cautious

(CercleFinance.com) - Nexans posted one of the biggest declines in the SBF 120 index on the Paris Bourse on Friday, penalised by Barclays' comments, which began to monitor 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.

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.

Analysts have a target price of E94 for the share.


Copyright (c) 2024 CercleFinance.com. All rights reserved.