Nexans: Crédit Suisse upgrades stock
(CercleFinance.com) - Credit Suisse has upgraded its rating on the Nexans share from "neutral" to "outperform," while raising its corresponding target price from 39 euros to 54 euros, incorporating in its valuation the forecasts for 2022 to reflect a solid order book.
In a rerport on European cable suppliers, the broker points out Nexans and its Danish peer NKT as its key picks in the sub-sector, while it maintains a "neutral" rating on the Italian group Prysmian.
"Nexans' near-term EBITDA should benefit from cost savings running ahead of targets, a lower-risk order backlog and a path to sustainably higher FCF," Crédit Suisse says.
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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.
In a rerport on European cable suppliers, the broker points out Nexans and its Danish peer NKT as its key picks in the sub-sector, while it maintains a "neutral" rating on the Italian group Prysmian.
"Nexans' near-term EBITDA should benefit from cost savings running ahead of targets, a lower-risk order backlog and a path to sustainably higher FCF," Crédit Suisse says.
Copyright (c) 2020 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.