(Finance) – JPMorgan has increased a 77 euros per share (from the previous 75 euros) the target price on Prysmiana company listed on Euronext Milan and active in the sector of cable systems for energy and telecommunications, confirming the recommendation “Overweight” on the title.
Following last week’s third-quarter results, analysts updated the model. They maintain their adjusted EBITDA estimates, while the reduction of some non-operational items (mainly the tax rate) leads to a 2% increase in EPS estimates adjusted for 2024/25.
It is explained that Prysmian’s results were in line with expectations, but the details turned out better than expected. Electricity and Telecommunications value chain sectors posted solid performance, offsetting weakness in the Industrial sector and exchange rate headwinds.
“Despite Prysmian’s significant presence in the US market, we do not expect a material impact from the US elections on the company’s growth prospects – we read in the research – We believe that a possible victory for Harris would continue to favor electrification, while a potential victory for Trump could favor large national producers, such as Prysmian, compared to cable imports into the United States United”.