Prysmian in the spotlight after accounts, analysts raise target price

(Il Sole 24 Ore Radiocor) - Still in the spotlight Prysmian after rising on Thursday 30 April, when it closed the session gaining 2.9% on the back of its first-quarter accounts for 2026. The cable company's stock is also trying to take advantage ofthe long wave of the quarterly report this week. Analysts particularly appreciated the confirmation of the guidance for the current year, which forecasts an Ebitda of EUR 2.625/2.775 billion and free cash flow of EUR 1.3/1.4 billion, although management expressed confidence in reaching the upper end of the Ebitda range and indicated that the guidance could be revised upwards when the first-half results are published. Intermonte's experts raised the target price on the stock from EUR 94 to EUR 116, maintaining the 'Neutral' recommendation. They also upgraded the valuation multiples to 2028 with an enterprise value/Ebitda multiple of 11.0x from the previous 10.0x. Analysts focused, in particular, on the words of Prysmian's CEO, Massimo Battaini, during the results presentation call, who stated "that long-term agreements with two hyperscalers will be signed in the coming weeks". These agreements - experts point out - have 'above-average margins and provide for upfront payments for capacity reservations. Based on these agreements, the company will increase global fibre capacity by 40 to 50 per cent'.

Banca Akros also raised its target price on Prysmian to EUR 110 from the previous EUR 100 "due tomore positive long-term assumptions", but downgraded the rating to 'Reduce' from 'Neutral' because according to the analysts "in the short term the company could benefit from good orders related to data centres, power grid improvement and electrification", but "these opportunities are already discounted in the current market valuation".