Berenberg Bank Downgrades Prysmian (OTCMKTS:PRYMY) to Hold

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

Several other equities research analysts have also recently weighed in on PRYMY. Citigroup reaffirmed a “buy” rating on shares of Prysmian in a research note on Thursday, January 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Prysmian from a “buy” rating to a “hold” rating in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Prysmian currently has an average rating of “Moderate Buy”.

Prysmian Price Performance

PRYMY stock opened at $59.64 on Tuesday. Prysmian has a 1 year low of $21.62 and a 1 year high of $63.22. The firm has a 50-day moving average of $54.67 and a 200 day moving average of $50.25. The company has a market cap of $34.22 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.