Jefferies sees 'new era of growth' for cable manufacturers
** Jefferies sees "a new era of growth" for cable manufacturers, driven by renewable energy penetration and power grind expansion and modernization
** The broker expects significant growth in high and medium voltage markets, and a turnaround in low voltage and telecom markets
** It initiates Nexans SA NEXS.PA with "buy" rating, noting that the company is "the only player with some capacity slots available this decade"
** It starts Prysmian SPA PRY.MI with "hold", pointing to further normalisation ofthe abnormal pricing in the U.S. market, persistinginventory destocking in telecomand complexintegration of Encore Wire
** Jefferies also initiates NKT A/S NKT.CO with "underperform", expecting growth in high volume business, to which it has significant exposure,to start onlyfrom 2027 after two years of decline
** It adds that while exposure to high voltage is positive in terms of growth and margins, it also carries higher risk of volatility
** NKT shares drop about 3% and Prysmian shares slide 0.2%, while Nexans rises 0.5%
Reporting by Anna Chaberska
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