Barclays flags healthy demand for cable makers but warns of metal price hikes

NKT A/S

21/01/2026 08:51

** Barclays flags healthy supply and demand for high-voltage cables, but remains wary of rising metal prices that could cause some delays

** It ups France's Nexans NEXS.PA to "equal weight" from "underweight", citing a group "reset" and leverage to a European buildings recovery

** It cuts Denmark's NKT NKT.CO to "equal weight" from "overweight", expecting the stock to "take a pause" after a strong run and due to its capped valuation

** Barclays reiterates "overweight" rating on Italy's Prysmian PRY.MI, calling it the "best overall positioned cable manufacturer" due to its U.S. growth exposure and attractive valuation

COMPANY
RATING
OLD RATING
PT
OLD PT
NEXANS
EQUAL-WEIGHT
UNDERWEIGHT
EUR 137.00
EUR 101.00
NKT
EQUAL-WEIGHT
OVERWEIGHT
DKK 852.00
DKK 1,097.00
PRYSMIAN
OVERWEIGHT
no change
EUR 112.00
EUR 102.00

(Reporting by Mateusz Rabiega)

((Mateusz.rabiega@thomsonreuters.com))