Prysmian (OTCMKTS:PRYMY) Cut to “Hold” at Berenberg Bank

Berenberg Bank lowered shares of Prysmian (OTCMKTS:PRYMY) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on PRYMY. Citigroup reaffirmed a “buy” rating on shares of Prysmian in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft lowered shares of Prysmian from a “buy” rating to a “hold” rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Prysmian currently has a consensus rating of “Moderate Buy”.

Prysmian Trading Down 3.2%

PRYMY stock opened at $57.71 on Tuesday. The firm’s 50-day moving average price is $54.84 and its two-hundred day moving average price is $50.30. The stock has a market capitalization of $33.12 billion and a price-to-earnings ratio of 133.61. 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.