Nexans sailed against the tide of the Paris market on Thursday, rising on the back of a positive note from analysts at Berenberg, who believe the cable manufacturer could exceed its targets.

At around 3.45 pm, the stock was up 1.2%, while the SBF 120 was down 0.5% at the same time.

In a research note published in the morning, Berenberg believes that the group will do better than expected this year, and exceed its targets unveiled last week, thanks to the strength of its low-voltage cable business.

The German financial intermediary has consequently raised its target price from €108 to €112, while renewing its buy recommendation on the share.

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