Citi sees Prysmian selloff as buying opportunity ahead of earnings
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.
How this was made
The 30-second read
Why it matters
The upgraded guidance and target price provide a clear catalyst for price appreciation, especially ahead of the upcoming earnings release.
Market read
Analyst upgrade and guidance raise create a short‑term bullish catalyst for PRY ahead of earnings.
What to watch
Integration risk of Atkore and execution of the US listing timeline.
Background
Citi Research reiterates a buy rating on Prysmian, setting a €136 target and raising forecasts after the recent Atkore acquisition.
Market effects
European cable and infrastructure sector may see relative strength as Prysmian outperforms peers.
Potential positive bias for Italy‑listed industrials.
US listing prospect could attract broader investor base.
Counterpoint
If datacentre demand continues to soften, the EBITDA uplift may be overstated.
Key entities
- analystCiti Research
Provides the upgraded rating and forecasts.
- acquired companyAtkore
Cable‑management firm whose acquisition adds ~13% to Prysmian sales.
