Nexans Shares Hit a New Historic High at €153 Following Results
This Wednesday afternoon, the French cable manufacturer set a new stock market benchmark, driven by strong buying momentum over several sessions. The stock is trading at €151.90 in mid-afternoon, up 2.64% from the previous day's close, now showing a nearly 12% gain over the past week.
A Historic Peak Crossed During the Session
Nexans reached €153.00 during the session, surpassing its previous record of €152.70. The stock is moving contrary to a CAC 40 down by 0.67% and an SBF 120 that is down 0.62% at mid-session. Over three months, the stock has gained 16.13%, and the performance has soared to 65.11% over one year, illustrating the upward trajectory since the summer of 2025. This new high comes after the announcement of first-quarter 2026 results and following the announcement of an agreement to acquire Republic Wire, a U.S. manufacturer of low-voltage copper and aluminum wire based in Cincinnati, for approximately 680 million euros. This operation, revealed on April 27, aims to strengthen the group's presence in the North American market. On the analysts' side, JP Morgan raised its price target for the stock from €132 to €140 on April 29, while maintaining a neutral opinion. This new target remains below the current price, implying a theoretical downside potential of about 7.8% from the level of €151.90. Analysts' opinions will be monitored in the coming sessions.
Tense Technical Setup After the Surge
The cumulative rise now positions the stock well above its medium-term benchmarks. The price of €151.90 is above the 50-day moving average (€124.87) and the 200-day moving average (€126.16), indicating a marked bullish acceleration since the April low around €114.80. The Bollinger Bands, meanwhile, send a signal of extreme configuration: the price is moving above the upper boundary set at €146.06, while the lower boundary is at €109.19. This position beyond the upper envelope corresponds to a statistical overbought zone. The RSI at 65 remains below the threshold of 70 generally associated with overbought, signaling strong but not yet extreme buying momentum. The next financial calendar event is the general assembly on May 21, 2026, followed by the half-year results scheduled for July 29, 2026.
