Prysmian (OTCMKTS:PRYMY) Downgraded by Zacks Research to “Hold”

Prysmian (OTCMKTS:PRYMY) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks reports.

A number of other brokerages have also commented on PRYMY. Citigroup reiterated a “buy” rating on shares of Prysmian in a report on Thursday, May 7th. BNP Paribas Exane assumed coverage on shares of Prysmian in a research report on Wednesday, May 6th. They set a “neutral” rating on the stock. Sanford C. Bernstein cut shares of Prysmian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Barclays reissued an “overweight” rating on shares of Prysmian in a report on Friday, July 3rd. Finally, Berenberg Bank upgraded shares of Prysmian from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Prysmian Stock Up 1.2%

PRYMY opened at $69.90 on Wednesday. The stock’s 50 day moving average price is $73.59 and its two-hundred day moving average price is $72.53. Prysmian has a 12-month low of $44.02 and a 12-month high of $92.89.

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.