Deutsche Bank ups Prysmian to 'buy', cites fiber demand

Prysmian SpA

08/05/2026 09:31

** Deutsche Bank upgrades its rating on Italy's Prysmian PRY.MI to "buy" from "hold," and raises its TP by 67% to 167 euros on growing demand for optical fiber for server and data centers

** As one of the few fiber producers with a domestic US footprint, and with the Chinese players fully absorbed by domestic demand, the Italian cable maker is well positioned to benefit from the sharp increase in fiber prices, the brokerage says

** DB sees the pricing benefit to start to flow through from Q3 onwards, with a more material step-up in 2027 and 2028 as contracts re-price at the higher prevailing market levels

** It expects Prysmian shares to continue its rally, supported by catalysts, including potential U.S. M&As, upgraded mid-term targets, a New York listing, entry into high-value fiber products, and possible Transmission order revival

** The stock is up 1.7% in morning trade on Friday, further extending its gains from Tuesday, when it closed 10% higher after the group's CEO flagged renewed appetite for M&A

** Out of 21 analysts covering Prysmian, 11 rate the stock "strong buy" or "buy", seven rate it "hold", and three rate it "sell" or "strong sell"

 (Reporting by Anna Uras)

 ((Anna.Uras@thomsonreuters.com))