Nexans share rebounds above its 200-day moving average and gains nearly 4%
The French cable manufacturer accelerates sharply during the session, driven by a favorable analyst revision from JP Morgan published this morning. The rebound occurs as the share had suffered over the past three months, and it places Nexans among the rare securities showing strong gains on a nearly stable CAC 40.
JP Morgan upgrades to overweight and raises target to €183, representing potential upside of nearly 32%
The American bank revised its opinion on Nexans on Wednesday, August 5th, moving from neutral to overweight while simultaneously raising its price target from €160 to €183. Relative to the current price of €138.10, this represents upside potential of nearly 32%. Barclays for its part maintained its overweight rating on Monday, August 3rd, while lowering its target from €191 to €179, still representing potential upside of over 29% from current levels.
These two analyst opinions converge on a constructive view of the stock, even though Barclays has slightly reduced its price ambition. In this context, the share is posting a gain of 3.91% during the session, at €138.10, after closing at €132.90 the previous day.
The rebound places Nexans back above its two key moving averages, against a backdrop of marked quarterly decline
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Today's gain restores a more favorable technical configuration to the share. Nexans has rebounded above its 20-day moving average at €132.41 (gap of +4.30%) and its 200-day moving average at €133.45 (gap of +3.48%), which signals a break from the downward momentum of recent weeks. The 50-day moving average at €143.06 remains above the current price, constituting a near-term obstacle before resistance at €148.70. The RSI at 45 is neutral, signaling neither overbought nor oversold conditions.
The share maintains a weekly performance of +11.28%, in the wake of half-year results published on July 29th, but remains down 12.59% over three months, reflecting a difficult period in the heart of summer. The next level to watch is the 50-day moving average at €143.06.
Notre performance du premier semestre reflète la poursuite de l'exécution rigoureuse de notre stratégie dans un environnement où les tendances de fonds de l'Électrification demeurent plus fortes que jamais.
Croissance organique du Groupe de +1,5 % au premier semestre 2026 (+4,5 % pour les activités d'Électrification), portée par PWR-Connect (+7,3 % en organique) et PWR-Grid (+4,9 %), tandis que PWR-Transmission amorce sa normalisation (-0,1 % en organique, -6,2 % au deuxième trimestre). La marge d'EBITDA ajusté d'Électrification s'établit à 13,2 % du chiffre d'affaires standard, encore pénalisée par un effet de mix défavorable (pays nordiques contraints, marges de La Triveneta Cavi inférieures à la moyenne). Le résultat net recule à 105,9 millions d'euros en raison des activités abandonnées (IFRS 5). La dette nette atteint 1 038,2 millions d'euros après l'acquisition de Republic Wire, pour un levier de 1,4x. Le carnet de commandes ajusté de PWR-Transmission s'élève à 7,7 milliards d'euros.
Risks mentioned
Normalisation de PWR-Transmission : croissance organique de -6,2 % au deuxième trimestre 2026
Effet de mix défavorable dans PWR-Connect : marge en baisse à 11,8 % contre 13,6 %
Pays nordiques toujours contraints par les conditions de marché
Hausse de la dette nette à 1 038,2 M€ et levier porté à 1,4x après acquisition
Opportunities identified
Acquisition de Republic Wire : entrée sur le marché américain basse tension estimé à 12 Md€
Environ 23 M€ de synergies attendues en régime de croisière d'ici trois ans
Ligne MI de PWR-Transmission chargée jusqu'à mi-2028 et marge visée supérieure à 17 % en 2028
Croissance des data centers captée via l'élargissement du portefeuille
Accord-cadre de 600 M€ remporté auprès d'Enedis en février 2026
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
