Nexans Shares Reach New High at €167.60, BNP Exane Sets Target at €185
On Thursday, May 7th, the French cable manufacturer pushed its stock price to a new high during the session, reaching €167.60 intraday before pulling back. At midday, Nexans shares were down 0.66% at €165.30, in a slightly negative CAC 40 (-0.13%). BNP Paribas Exane has raised its price target to €185, reaffirming its outperform rating.
A New Record in Two Weeks
Today's peak at €167.60 surpasses the previous high set on Wednesday. The stock has been setting new highs since the quarterly report on April 29th, marked by a 4.9% organic growth in electrification.
BNP Paribas Exane issued a new outperform recommendation on May 6th with a target price of €185, representing a potential of approximately 11.9% relative to the current price.
Over one week, the stock has gained 7.97%. Over three months, it has increased by 18.84%. Over one year, it has soared by 69.63%.
Technical Pullback After the Surge, RSI at 85 Indicates Overheating
The intraday peak at €167.60 briefly exceeded the resistance level of €166.40 before the observed mid-session pullback. An RSI at 85 reflects a marked overbought condition, following a series of eight nearly uninterrupted sessions of gains.
The price is above the upper Bollinger Band set at €164.26, a signal consistent with the short-term exhaustion of the movement. The 50-day moving average is at €127.60, about 29.6% below the current price, indicating the magnitude of the rally since late March.
The spring calendar remains busy: the general assembly on May 21st, dividend detachment on May 25th, and payment on May 27th. The half-yearly results for 2026 are expected on July 29th.
