(CercleFinance.com) – Berenberg initiated monitoring of Nexans shares on Tuesday with a purchase recommendation and a price target of 98 euros.
In its study, the German broker welcomes the progress made in both profitability and cash flow by the new management team since taking office in 2018.
‘Following the announcement of the possible cancellation of offshore wind projects in the United States, the stock price fell by around 8% in 2023’, recalls the broker.
‘We think this creates an interesting entry point for investors, knowing that we are optimistic about the long-term prospects of the company,’ adds Berenberg, who believes that the group should in particular benefit from the trend to the electrification of industry.
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