Prysmian: Hyperscaler Capex Keeps The Buy Case Alive Despite A 300% Rally

Prysmian is positioned to benefit from hyperscaler CAPEX growth, with Digital Solutions showing 9% organic growth and EBITDA margins at 20.6%. Management sees upside in earnings, margin expansion, and M&A firepower, supported by strong FCF and de-leveraging below 1x ND/EBITDA by 2026.

Despite a higher valuation, we see upside to 2027 estimates. So, we remain buyers.