Nexans: Stifel initiates 'hold' coverage

(CercleFinance.com) - Stifel announced on Wednesday that it had initiated coverage of Nexans shares with a 'hold' recommendation and a price target of 123.
1 euros.

In a study devoted to cable manufacturers, the analyst believes that the French group, like its Italian competitor Prysmian, are clear beneficiaries of the global trend towards electrification.

Stifel prefers Prysmian to Nexans, believing that the latter offers less earnings volatility due to a more diversified order book and exposure to more attractive markets, at what he considers to be a 'reasonable' premium.

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