Prysmian: Well On Track To Deliver The 'Connect To Lead' Results [Seeking Alpha]
PRYSMIAN S.P.A. UNSP/ADR (PRYMY)
NASDAQ:AMEX Investor Relations:
prysmiangroup.com/en/investors
Company Research
Source: Seeking Alpha
The company increased its dividend per share by 16.7%. There is an M&A upside, given the solid balance sheet. Prysmian's Net debt/EBITDA is lower than 1x. Compared to peers, the valuation gap is now closed. We believe the company is now correctly priced in. We moved our rating to neutral. Since our initiation of coverage, OTCPK:PRYMF ) delivered a 30% total return. Our team has already increased the target price to €43 per share, but after the results for the fiscal year 2023, the company is now €46 per share. Our supportive equity story was supported by a new high-voltage commission and lower cancellation risk in Prysmian 's order book. That said, we supported the company's investment due to higher " renewable energy needs and growing electricity demand." More efficient grid requirements also back this. Ongoing Positive Upside Before commenting on the just-released results, it is essential to follow our update called Supportive Trends Ahead. Recently, Prysmian communicated
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News
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- Prysmian Digitally Transforms Warehousing Capabilities With Blue Yonder [Yahoo! Finance]Yahoo! Finance
- Italy's Prysmian wins $2.1 bln contract for UK power transmission link [Reuters]Reuters