Nexans Share: The 127.20 € support pierced intraday, then reclaimed
The Courbevoie cable manufacturer rebounds in mid-afternoon, in a well-oriented Paris market. The session nevertheless began with a severe test of its technical floor, before buyers regained control. Two brokerage houses also adjusted their price targets on the security.
A support breached then retaken, under still-heavy moving averages
The stock gains 2.2% to 130 € while the SBF 120 advances approximately 1%. During the session, Nexans broke through its support at 127.20 € down to 126.80 €, before moving back above it: the level was therefore tested without being validated on the downside. The rebound remains modest in view of the overall configuration, as the price remains 3.85% below its 20-day moving average (135.20 €) and nearly 5% below its 50-day moving average, while the RSI at 37 reflects a security still under pressure following an 8% decline over one month. This movement follows the slide below 131.40 € on Wednesday, which today's session has not yet erased.
JP Morgan raises its target to 186 €, HSBC lowers its own to 175 €
Two analyst opinions were released this Friday, in opposite directions. JP Morgan, already with a buy rating, raises its price target from 183 € to 186 €, representing an upside potential of approximately 43% compared to today's price. HSBC, also with a buy rating, reduces its target from 180 € to 175 €, which still leaves a margin of 35%.
Both houses therefore maintain a positive opinion, with targets well above the current price. On the fundamentals side, the group had raised its outlook for 2026 when publishing its first-half results on July 29, 2026, with EBITDA targeted at 805 M€, notably leveraging the acquisition of Republic Wire which opens the low-voltage market in the United States to it.
