Goldman Sachs Bullish on Prysmian, Citing Strong Demand and Earnings Visibility

📆 1/7/2025 11:30 PM
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FINANCE,INVESTMENT,ITALY

Goldman Sachs has added Italian cable manufacturer Prysmian to its 'Conviction List - Directors' Cut', a curated list of top European stocks. The investment bank believes Prysmian will benefit from strong secular demand trends, particularly in the high-voltage data center segment, and has superior earnings visibility due to a large backlog. Prysmian's diversified end market exposure and U.S. reshoring exposure also contribute to Goldman's positive outlook.

Goldman Sachs is bullish on one of Italy's cable manufacturing giants: Prysmian . The company is set to benefit from strong secular demand trends and superior earnings visibility, the investment bank said in a Jan. 2 research note. Prysmian makes underground and submarine cables and systems for power transmission and distribution.

Another plus of the company is that it has the "most diversified end market exposure" with 88% of its operations being outside high-voltage, Costa wrote. It also has higher U.S. reshoring exposure, with 34% exposure to U.S. construction, industrial and fiber sectors, she added. Those factors are the reason Costa said she's "more confident" on Prysmian's near- and medium-term outlook.

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