Financial PerformancePrysmian's organic EBIT has historically underperformed compared to its Electricals peers, with expectations for this trend to continue as key divisions like Power Grids and Industrial and Construction reach their peak margins.
Investment StrategyUncertainty in the US High Voltage market may lead to Prysmian delaying its capacity investments, potentially limiting opportunities for positive revenue surprises.
ValuationThe target price for Prysmian has been reduced to €66 from €70 due to a slightly lowered target multiple of 10.0x EV/EBITDA, influenced by a decrease in assumptions for the Power Grids division.