Deutsche Bank cuts Prysmian to 'hold', awaits 'better' entry point

Deutsche Bank downgrades Italy's Prysmian PRY.MI to "hold" from "buy", saying it prefers to wait a "better" entry point, potentially following a mid-to-large size acquisition

The valuation of the world's largest cable maker has "more than closed" its average historical gap to leading EU electricals, DB says

Prysmian's progress on the U.S. front, where expectations for market share gains were high following copper and aluminium tariffs developments, appears to be slower than expected, DB adds

While the company could benefit from electrification and data‑centre build‑outs, the potential for short‑term consensus upgrades is limited, according to DB

Shares were up 19.2%​ YTD, as of Friday's session close

Out of 21 analysts that cover Prysmian, 13 rate the stock "strong buy" or "buy,"​ six rate "hold" and two​ rate the stock "strong sell" or "sell" - LSEG data shows