Bernstein cuts Prysmian to 'market-perform' on AI growth reflected in consensus

Prysmian

13/08/2026 12:50

August 13 - ** Bernstein downgrades Italy's Prysmian PRY.MI to "market-perform" from "outperform" saying most of the upside for the cable maker's stock is now reflected in expectations 
** After a rally of more than 50% year-to-date, the brokerage notes Prysmian's valuation is well on its way to close the gap with US peers, noting key strategic catalysts have already being delivered and increasingly priced into consensus
** "We feel the stock is up with events and decide to take profit," it adds    
** However, it raises its target price by almost 32% to €145 ($167.29), driven largely by earnings upgrades
** Bernstein sees some near-term risks before the next strategy update expected in early 2027, with high expectations now clashing management's recent trend of "over-promising and under-delivering"
** Out of 18 analysts that cover Prysmian, 12 rate the stock "buy,"​ five maintain a "hold" rating and only one rates it "sell" - LSEG data


($1 = 0.8668 euros)

 (Reporting by Anna Uras)
 ((Anna.uras@thomsonreuters.com))