Nexans Shares Hit New All-Time High of €168.50 After 22% Rally
The French cable manufacturer reaches a new all-time high during the session at €168.50, surpassing the previous record of €168.40. Nexans shares are up 0.72% at €167.80 in mid-afternoon trading, with the SBF 120 index up by 0.79%. The session continues the upward momentum that began in late April following the quarterly earnings release.
A New Historical Record at €168.50 Extends the Late April Rally
The share price touched €168.50 intraday, setting a new absolute high that eclipses the previous peak of €168.40. The price has since returned to €167.80, up 0.72% from the previous day's close. Over three months, the stock has gained nearly 22%, and 62.75% over the past year. The rally accelerated after the quarterly earnings report on April 29, which reported a 4.9% organic growth in electrification, and the announcement of the acquisition of Republic Wire in the United States for approximately €680 million. Since this turning point, the stock has continued to set records, moving from €153 on April 29 to €168.50 today. In terms of recommendations, Jefferies raised its target to €162 on May 12, maintaining a 'hold' rating. The target is now surpassed by the current price, which is 3.6% above. Conversely, BNP Paribas Exane has a target of €185, indicating a potential upside of 10.3%.
Technical Indicators in Overbought Zone, Busy Schedule in May
The stock is approaching the upper Bollinger band at €175.26 and is at 86% of the band's amplitude, in a characterized overbought zone. The RSI at 72 confirms this tight configuration after a sequence of close records. The price is 12.29% above the MM20 (€149.44) and 27.31% above the MM50 (€131.80), indicating a widening gap throughout the spring rally. The calendar for the coming weeks is packed. The annual general meeting of shareholders is scheduled for May 21, followed by the dividend detachment on May 25 and payment on May 27. The first half of 2026 results are expected on July 29. The technical resistance identified at €166.80 was breached during the session, and the next reference level is at the upper Bollinger band at €175.26.
