Nexans : Well wired for future growth
Following several management meetings (site visits, road shows, etc.), we are reaffirming our Outperform recommendation on a leading global player benefiting from investment tailwinds across low, medium, and high voltage. M&A is also expected to act as a growth accelerator. Factoring in the group’s new governance structure, focus on innovation, and solid backlog, we are forecasting a 2025-28 EBITDA CAGR of 11.6%, with “de-risked” guidance for 2026. We are raising our target price to € 170 from € 160.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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