Jefferies lifts Prysmian’s price target to €176 and keeps a Buy rating, citing stronger earnings expectations and Digital Solutions’ AI-driven fibre demand as a growth lever.

The valuation rises on a higher sum-of-the-parts view, with 2027 EV/EBITDA lifted to 16x from 11x and upgrades to EBITDA and adjusted EPS through 2028.

Q1 momentum shows management delivering a stronger start and pursuing the upper end of full-year guidance, with expected acceleration in Transmission EBITDA and margin gains in Transmission and Power Grid.

Global fibre pricing has surged, with average bare fibre prices up significantly in 2026 and fibre spot prices spiking in early 2026, driving longer lead times amid tight supply and rising data-centre and defence demand.

Digital Solutions is pegged as Prysmian’s growth engine, targeting about 20% annual revenue growth and roughly 30% EBITDA growth through 2030, with EBITDA rising to €1.12 billion and margin expanding to 27%.

Longer-term projections show group EBITDA of €4.77 billion by 2030 and adjusted EPS of €12.45, up from €2.81 billion EBITDA and €4.89 in 2026.

For 2026, the forecast calls for €21.50 billion revenue, €2.81 billion adjusted EBITDA, and €4.89 adjusted EPS; by 2027, revenue is seen at €23.29 billion, EBITDA €3.39 billion, and EPS €6.55, underscoring Digital Solutions as the main growth driver.

Digital Solutions is identified as Prysmian’s main growth driver, propelled by rising demand for optical-fiber infrastructure from AI-driven data-centre expansion, with over €1.2 billion of investment planned and visibility on more than €5 billion of revenue via a hyperscaler frame agreement.

The stock rose about 2.1%, implying roughly 19% upside from Prysmian’s prior close of €148.