Prysmian SpA share price target upped by Barclays amid robust margin outlook By Investing.com

On Tuesday, Barclays updated its financial outlook on Prysmian SpA (PRY:IM) (OTC: PRYMY), increasing the share price target to EUR63.00 from the previous EUR58.00. The firm maintained its Overweight rating on the stock, indicating a positive outlook on the company’s performance.

The adjustment comes as Prysmian SpA is recognized for its robust margin and risk profile, particularly in new high-voltage capacities. The company’s medium-voltage margin advantage is attributed to its better geographical exposure and could be further improved by accelerated grid capital expenditure. Additionally, the current inflation in prices may enhance the attractiveness of Prysmian’s low-voltage exposure through its Encore product line.

Barclays also noted that Prysmian’s comprehensive product offerings to data centers could provide the company with another competitive advantage. This aspect of the business is expected to contribute positively to the company’s overall market position.

The Overweight rating suggests that Barclays expects Prysmian’s stock to outperform the average total return of the stocks covered by the analyst in the sector over the next 12 to 18 months. The new price target of EUR63.00 reflects the firm’s confidence in Prysmian’s potential for growth and profitability in the near future.

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