Nexans : Feedback from road-show – recovery well on track – Buy vs Neutral recommendation – target price € 40 (vs € 32)
>Underlying operating profit lifted to 11/13% - Buy vs Neutral - Following a roadshow with the new management of Nexans, we confirm that the strategic plan ("New Nexans") presented at the end of 2018 has been unfolding according to expectations. Interim results even reflect a slight advance. Our underlying operating profit sequence has been lifted to 11/13%. Our new target price stands at € 40 (vs € 32), justifying our Buy recommendation (vs Neutral).A re...Nexans offers cables and cabling systems for the Infrastructure, Industry, Building and Local Area Network markets. Co.'s offering covers the research, design, manufacturing, installation, training, and network supervision and control. Co. operates under three segments: Energy (power cables for energy infrastructures, special cables for industry, and equipment cables for the building market), Telecom (cables for private telecommunications networks, junction components for telecommunications network cables, and copper and optical fiber cables for public telecommunications networks) and Electrical wires (wirerods, electrical wires and winding wires production operations).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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