Kepler cuts Prysmian to 'hold', raises TP on limited upside ahead of Q3 earnings

Prysmian SpA

03/10/2025 10:23

** Kepler Cheuvreux cuts Prysmian's PRY.MI rating to "hold" from "buy," but raises its TP to 90 EUR/Shr ($105.64) from 80 EUR/Shr in its Q3 preview, seeing only limited upside ahead of the firm's Q3 release

** Cablemakers are seen benefiting from U.S. tariffs on copper and aluminium imports, boosting pricing for local players, with improving performance in the U.S. expected to take centre stage for Prysmian in its Q3 earnings on Oct 30

** Kepler expects Prysmian to raise its current FY guidance and for it to reach its 2028 targets already by 2027

** "The case is solid, but the stock has become pricey. The stock move anticipated and exceeded the expected consensus revision" - broker

** "Upside is now just +1%. We would start to take profit"

** Out of 21 analysts that cover Prysmian, 15 rate the stock "strong buy" or "buy," ​five rate it "hold" and only one maintains a "sell" rating - data compiled by LSEG

($1 = 0.8519 euros)

 (Reporting by Enrico Sciacovelli)

 ((Enrico.sciacovelli@thomsonreuters.com))