Nexans Shares Hit New Record at €163 Following Nykredit Upgrade
The French cable manufacturer starts the trading session on Wednesday, May 6, on a high note. The stock reached €163.00 early in the morning, setting a new all-time high, surpassing the previous day's peak of €162.50. This achievement comes after Nykredit Bank raised its price target.
On Monday, Nykredit Bank increased its price target on Nexans from €150 to €170, while maintaining a 'buy' recommendation. The new target suggests a potential of about 4.5% from the current price of €162.60. This revision follows a favorable period for the cable manufacturer. On April 29, the company reported a 4.9% organic growth in electrification for Q1 2026, and confirmed the acquisition of Republic Wire in the United States for approximately €680 million. The next important dates are the general assembly on May 21, followed by the dividend detachment on May 25.
Stock Crosses Upper Bollinger Band
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At €162.60, the stock price is above the upper Bollinger Band, set at €160.80. This configuration indicates an overbought condition, confirmed by an RSI of 81. The stock has gained 9.87% over seven days and 19.56% over three months, continuing the momentum initiated after the quarterly publication. The gap with the moving averages has widened. The MM50 is at €126.80, more than 20% below today's price. The MM200 is at €127.35. The previous resistance at €158.80 was surpassed yesterday and now serves as the first support in case of a pullback. The next significant event for shareholders is the general assembly on May 21, 2026.
Nexans impose comme un partenaire de choix pour soutenir la souveraineté énergétique.
Croissance organique robuste des activités d’électrification de +4,9 %
Risks mentioned
Baisse de la demande chinoise.
Droits de douane américains affectant les Autres activités.
Opportunities identified
Acquisition de Republic Wire pour renforcer le positionnement de Nexans.
Élargissement de l'empreinte industrielle en Amérique du Nord.
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.
