Why is Prysmian stock gaining today?

Citi reiterated a 'buy' rating on Prysmian (PRY.MI) with a €136 price target, citing a 31% share price drop since June. The firm expects Prysmian to raise its 2026 EBITDA guidance to €2.95-3B and sees a 37.3% upside potential. The stock trades at a discount to peers despite higher earnings growth, according to Citi.

Prysmian stock rose 1.9% to €100.75 after Citi reinstated a Buy rating with a €136 price target, projecting €5.2B EBITDA by 2030. The bank cited valuation compression and favorable medium-term trends. Q3 2026 earnings are expected to report €5.9B revenue. The stock is 36% below its 52-week high. Citi also noted the impact of the Atkore acquisition on 2026 EBITDA guidance.

Prysmian S.p.A. completed its acquisition of Atkore Inc. for $95 per eligible share, with an implied enterprise value of about $3.8 billion. Atkore is now a wholly owned subsidiary, and its shares were delisted from the NYSE. Prysmian funded the deal with debt and equity, and expects annual pretax synergies of $150 million within three years.

Prysmian (PRY) completed its $3.8B acquisition of Atkore, paying $95 per share. The company expects $150M in annual pretax synergies within three years and EPS accretion in the first full year. This deal expands Prysmian's offerings into integrated electrical solutions.

Atkore (ATKR) terminated two credit facilities and redeemed $400M in Senior Notes due 2031, paying 102.125% of principal plus interest. The moves follow its merger with Prysmian, simplifying financing and aligning capital structure.

Italy's FTSE MIB index fell 0.61% to 49,753.84 on 14 October 2026, driven by declines in Prysmian, banks, and higher bond yields. Avio surged 5.34% on a Lockheed Martin deal. The index is down 3.5% in the past month but up 11% year-to-date. Investors watch banking consolidation and rate outlook.