Prysmian (OTCMKTS:PRYMY) Downgraded to “Hold” Rating by Berenberg Bank

Prysmian (OTCMKTS:PRYMY) was downgraded by Berenberg Bank from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on PRYMY. Citigroup reiterated a “buy” rating on shares of Prysmian in a report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft lowered shares of Prysmian from a “buy” rating to a “hold” rating in a research note on Monday, February 9th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Prysmian Trading Up 1.4%

Shares of PRYMY opened at $59.64 on Tuesday. The company has a market cap of $34.22 billion and a price-to-earnings ratio of 133.61. The business’s fifty day simple moving average is $54.67 and its two-hundred day simple moving average is $50.25. Prysmian has a 12 month low of $21.62 and a 12 month high of $63.22.

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.