BofA sees Atkore deal boosting Prysmian earnings - 4 Aug 2026

As of August 4, today’s news features developments in Prysmian's strategic positioning and potential regulatory changes in the technology sector. Bank of America has reaffirmed its "buy" rating for Prysmian, setting a target price of 180 euros following the company's acquisition of the U.S. firm Atkore for 3.3 billion euros. Analysts project that this acquisition could enhance Prysmian's earnings per share by 7-10% in 2026-2027 and solidify its footprint in the U.S. market, citing potential synergies of approximately 150 million euros. Regulatory developments are also making waves, particularly as the Trump administration is drafting a ban on U.S. imports of new models of Chinese data center components, including crucial optical transceivers. This initiative aims to protect U.S. infrastructure amidst growing concerns over national security and cybersecurity threats. Officials anticipate that a ban could be enacted later this year, although they also note that it may be subject to changes. Such restrictions could impact major Chinese players like Zhongji Innolight, while potentially driving U.S. companies such as Coherent and Lumentum to capture market share. In market news, Vattenfall has secured contracts to develop two offshore wind farms in Denmark, which are expected to provide energy to approximately 1.8 million households by 2032. This initiative aligns with the ongoing push for renewable energy investments, showcasing the increasing demand for sustainable power sources across Europe. On the investment front, the global sustainable fund industry is facing challenges, as a marked decline in new fund launches raises concerns among asset managers. In the second quarter of this year, Europe saw a significant drop to just 13 new funds, juxtaposed with 64 closures. Heightened investor withdrawals and regulatory scrutiny are prompting a re-evaluation of sustainability claims, as the industry grapples with scrutiny over greenwashing practices. In broader world news, Iran is seeking to establish control over inbound and outbound shipping in the strategically vital Strait of Hormuz as a component of discussions with Oman to reopen the waterway. This demand reflects Tehran's ongoing security concerns amidst regional tensions, highlighting the strategic importance of the strait, which is critical for global oil supplies.