Prysmian (OTCMKTS:PRYMY) Sets New 1-Year High - Still a Buy?

Key Points

• New 52-week high: Prysmian reached $71.19 (up ~1.3%) on volume of 88,583 shares, trading well above its 50-day ($59.22) and 200-day ($54.06) moving averages, with a market cap of $40.85 billion and a high PE of 133.61.
• Mixed analyst sentiment: Two analysts rate the stock Buy and three rate it Hold (average rating "Hold"), with recent downgrades from Deutsche Bank and Berenberg while Citigroup reiterated a Buy.

Prysmian S.p.A. (OTCMKTS:PRYMY - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $71.19 and last traded at $71.19, with a volume of 88583 shares changing hands. The stock had previously closed at $70.25.

Analyst Upgrades and Downgrades

PRYMY has been the topic of a number of recent analyst reports. Citigroup reiterated a "buy" rating on shares of Prysmian in a report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft lowered Prysmian from a "buy" rating to a "hold" rating in a research report on Monday, February 9th. Zacks Research raised Prysmian to a "hold" rating in a research report on Tuesday, March 3rd. Finally, Berenberg Bank lowered Prysmian from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Prysmian presently has an average rating of "Hold".

Prysmian Stock Up 1.3%

The company has a market cap of $40.85 billion and a PE ratio of 133.61. The business has a 50-day simple moving average of $59.22 and a 200-day simple moving average of $54.06.

About Prysmian

Prysmian Group is a leading global manufacturer of cables and systems for energy and telecoms, operating under the OTCMKTS ticker PRYMY. The company specializes in the design, production and distribution of high-technology cables that deliver power and data in a broad range of applications, from high-voltage subsea transmission to fiber-optic networks for telecommunications. Its core mission is to enable efficient energy transmission and advanced digital connectivity for utilities, industrial and infrastructure customers worldwide.

The group’s product portfolio spans power cables for high-voltage and extra-high-voltage transmission, medium- and low-voltage distribution cables, flexible industrial cables, and specialty cables for renewable energy installations.

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