Deutsche Bank starts Prysmian, Nexans with 'buy' on structural electricity demand growth

Nexans SA

24/06/2025 08:54

** Deutsche Bank starts Italy's Prysmian PRY.MI and France's Nexans NEXS.PA with "buy" on strong earnings momentum for both firms, underpinned by structural electricity demand growth

** Prsymian rises as much as 5.8%, Nexans as much as 5.4%

** Deutsche Bank expects the cable makers to gradually re-rate upward as they execute high-voltage transmission "record" backlogs

** Sell-off sparked by launch of DeepSeek and U.S. tariff threats widened the sectoral valuation discount for both, brokerage says

** The results are "attractive entry points" to "multi-year growth stories" as their exposure to both events is limited, it adds

** Out of 21 analysts that cover Prysmian, 17 rate it "strong buy" or "buy"​, three "hold" and one "sell" - data compiled by LSEG

** Out of 15 analysts that cover Nexans, six rate stock "strong buy" or "buy," ​eight "hold" and one "sell"

(Reporting by Philippe Leroy Beaulieu in Gdansk)

((Philippe.leroybeaulieu@thomsonreuters.com))