Nexans Shares at €166.70: Up 64% in One Year, Approaching All-Time High
The French cable manufacturer resumes its upward trajectory after Tuesday's halt. Nexans shares rose 2.58% to €166.70 in early afternoon trading, just cents away from the all-time high of €167.60 reached on May 7. This performance contrasts with a CAC 40 down by 0.26% and an SBF 120 that fell 0.21%.
A Rebound that Erases the Previous Day's Decline
After dropping 3% on Tuesday, the stock immediately resumed its upward path. Nexans ranks 12th in the SBF 120, behind Vallourec (+9%) and Soitec (+8.36%). Over the week, the stock has gained nearly 5%, and it has risen 18.82% over three months. The annual movement remains impressive: +64% over twelve months. The bullish sequence is supported by a series of records since the end of April, following the quarterly publication on April 29 that reported a 4.9% organic growth in electrification, and the acquisition agreement of Republic Wire for approximately €680 million announced on April 28.
Resistance at €166.80 in Sight Before Dividend Detachment
The price almost exactly encounters the technical resistance identified at €166.80. The stock is also at the high end of the Bollinger Bands, at 87% of the range, close to the upper limit at €173.22. The RSI at 70 enters an overbought zone, indicating a tense configuration after the bullish sequence. On the analyst side, Jefferies raised its target from €132 to €162 on May 12, while maintaining its 'hold' rating. The new target is now slightly below the current price. BNP Paribas Exane had a target of €185 on May 7. The spring schedule is busy: general assembly on May 21, dividend detachment on May 25, payment on May 27. The first half of 2026 results are expected on July 29.
