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.
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
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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.
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.
