(News Bulletin 247) – Bank of America renewed its buy recommendation and its price target of 100 euros on Nexans on Thursday, judging that the ‘record’ contract won with the EuroAsia Interconnector constituted an important step in the revaluation of the title.
From the analyst’s point of view, this order estimated at more than 1.4 billion euros represents a “key moment” for the cable manufacturer by confirming its ambitious objectives in high voltage networks by 2024.
For the intermediary, this agreement also shows that Nexans remains the best possible choice for investors wishing to play the theme of energy transition within the cable sector.
Finally, BofA evokes an ‘attractive’ valuation, the title currently showing a discount of around 35% compared to the sector and an underperformance of 18% against the STOXX Europe 600 sector index since the beginning of the year.
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