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