J.P. Morgan lifts Nexans to 'overweight', cites 2028 growth

Nexans SA

05/08/2026 07:25

** J.P.Morgan upgrades French cable maker Nexans NEXS.PA  to "overweight" from "neutral" citing end of divestment-related earnings drag and increased confidence in its 2028 growth targets
** JPM says Nexans is on track to achieve its 2028 objectives, supported by electrification growth and higher Transmission margins
** The broker says the outlook for European electricity transmission and distribution remains strong and it says Nexans is expected to generate more than 45% of EBITDA from the two businesses
** Broker forecast 2028 Adj EBITDA of €1.1BLN, 6% above Bloomberg consensus
** Out of 15 analysts that cover Nexans, ten rate the stock "strong buy" or "buy,"​ five rate "hold" and no analysts rate the stock "strong sell" or "sell" - LSEG data

(Reporting by Ronan Corcoran)
((ronan.corcoran@thomsonreuters.com))