Ticker

The Italian cable maker said the 10-year agreement to supply Molex was one of a string of new deals with infrastructure providers.

Italian cable maker Prysmian said on Monday it had signed a long-term agreement worth up to €5.5 ​billion ($6.4 billion) with Molex, a Koch-owned electronics ​company, as it stepped up its push into ⁠the fast-growing data centre market.

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.

Prysmian is rated Buy versus Corning Hold, due to superior risk-adjusted positioning in the AI data center supply chain. GLW offers higher growth and margins, driven by aggressive capex and photonics, but is more exposed to data center demand risk and premium valuation. PRYMY benefits from diversified electrification and fiber optics exposure, lower data center risk, and European revenue, supporting steadier…

Italian cable maker Prysmian is exploring the market for a potential acquisition of about 4 billion ​euros ($4.68 billion) enterprise value, CEO Massimo Battaini ‌told Bloomberg News in an interview published on Tuesday.