BUZZ-MS cuts Prysmian to 'equal-weight', cites slowing power grids, electrification

Reuters15:52

** Morgan Stanley cuts Italy's Prysmian to "equal-weight" from "overweight" saying the cable maker is "as good as it gets" and expecting profit growth to slow after two years of expansion in power grids and electrification

** "We now see as many ways Prysmian can surprise negatively as it can positively in 2025-26," MS says

** It cuts its PT on the stock by 6% to 66 euros ($71.84) on lower expectations for its power grids segment

** Up to Monday's close, the Milan-listed stock was up 55%​ YTD to 63.86 euros

** It is trading near an all-time high of 69.9 euros it touched last week

** MS says Prysmian's 2025 core profit forecasts fully reflect the Encore Wire acquisition, while prospects of a U.S. dual listing are a modestly positive catalyst but not overly surprising

($1 = 0.9187 euros)

(Reporting by Alessandro Parodi)

((alessandro.parodi@thomsonreuters.com))

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