Prysmian (OTCMKTS:PRYMY) Shares Gap Up – Still a Buy?

Prysmian S.p.A. (OTCMKTS:PRYMY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $82.88, but opened at $89.14. Prysmian shares last traded at $89.14, with a volume of 3,569 shares trading hands.

Analysts Set New Price Targets

Several analysts recently weighed in on PRYMY shares. Citigroup restated a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. Zacks Research upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. BNP Paribas Exane started coverage on shares of Prysmian in a research report on Wednesday, May 6th. They set a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Prysmian from a “hold” rating to a “buy” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Prysmian currently has an average rating of “Moderate Buy”.

Prysmian Trading Up 3.7%

The firm has a 50-day simple moving average of $81.47 and a 200-day simple moving average of $64.66. The firm has a market cap of $53.20 billion and a P/E ratio of 133.61.

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.