Weak session in Piazza Affari for the Prysmian stock, which at the end of the morning dropped 1,3%, to 15,88 euros, suffering the worst drop of the Ftse Mib.
The group specializing in the production of cables was affected by the rating cut decided by Exane analysts, who brought the recommendation to neutral from the previous outperform.
On Friday, the stock had been downgraded by JP Morgan from overweight to neutral, with the target price reduced from 20,5 to 18 euros.
The brokers' decisions are related to disappointing quarterly data released last week. Revenues fell 5,4% to $1,579 billion and adjusted profit fell 69% to $12 million. The management has forecast an adjusted Ebitda for 2014, which the management estimates between 530 and 580 million, against a market consensus of 630 million.
