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

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

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

Prysmian Stock Performance

PRYMY stock opened at $59.64 on Tuesday. The firm has a fifty day moving average price of $54.67 and a 200 day moving average price of $50.25. Prysmian has a fifty-two week low of $21.62 and a fifty-two week high of $63.22. The firm has a market cap of $34.22 billion and a PE ratio of 133.61.

Prysmian Company Profile

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.