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12 Feb 2015

Prysmian’s stock on the rise

Good news about Prysmian shares. Last month marked a strong recovery of the stock and many brokers agree on positive outlooks for 2015, also in light of the current European investment plans which might influence our company in the near future.

Analysts at Equita Sim, an Italy-based independent investment bank, have recently improved their view of the stock, raising their recommendation from “hold” to “buy” and increasing the target price to €19.50 from the previous €17.20.

The brokerage firm improved its recommendation for Prysmian in light of expectations of an accelerated growth, driven by the telecom and submarine cable sectors and the improved macro situation in Europe. “The PMI is showing signs of improvement, climbing to the highest levels in six months, while the ECB’s quantitative easing has been more aggressive than expected and will translate into a drive towards growth in Europe, where Prysmian generates 60% of its sales,” explained Equita’s experts. In addition, in the brokerage firm’s opinion, the weakening of the Euro is likely to generate a positive impact of €15 million on adjusted EBITDA in 2015.

Naxitis, a French corporate and investment bank, and Intermonte, an Italian independent investment bank, also shared the same opinion: they have decided to raise the target price of Prysmian Group shares to €18 and €19, respectively, issuing a ‘buy' recommendation.

According to the analysis made by the Italian financial daily Milano Finanza in December 2014, Prysmian is forecasted to be amongst top-performing stocks in 2015. “Last year our Group has shown a resilient performance despite the challenges of the global macro-economic environment, creating the conditions for a more robust performance in 2015. The financial market expects Prysmian to continue to create value and to be perfectly positioned to benefit from the positive impacts of the quantitative easing in Europe,” explains Cristina Bifulco, Prysmian Group Investor Relations Director. “Our company is perceived as one of the best managed in the capital goods sector and the best-in-class among its peers, and I believe that current year will confirm and strengthen this view.”

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