Prysmian seen at top-end Ebitda as NKT locks in €6bn copper deal - Feb 17, 2026

As of February 17, today’s news highights analyst updates concerning Prysmian, alongside NKT’s renewal of a major long-term copper supply agreement. Bloomberg Intelligence said that Prysmian has the potential to deliver 2025 adjusted Ebitda toward the upper-end of its 2.375-2.425 billion euros guidance range, led by the double-digit growth scope of its Transmission business, lasting strength in data-center demand and Channell's 3Q sales run-rate trending 50-60% above the level before its acquisition. Meanwhile, Prysmian cut to hold from buy at Berenberg, which says the European cables supplier’s upwards rerating combined with what the bank sees as ambitious medium-term consensus, leaves little room for upside. Furthermore, NKT has renewed its long-term copper supply 6 billion euros agreement with leading European mining and smelting company KGHM. The renewed contract secures a stable supply of European-produced copper for NKT's power cable manufacturing over the next decade, ensuring long-term availability through to 2036. Turning to market updates, gains in market share from potential tariff changes on copper wire in the U.S. add further potential for growth, although initial guidance for 2026 offers little additional upside. Meanwhile, BHP reported a notable increase in profits, largely driven by a surge in copper prices, as demand from AI-related applications continues to grow. The mining giant's strong financial performance, including a 22% increase in underlying profit, helped its shares climb to an all-time high, despite declining iron ore prices. On the copper market, prices have recently fallen as inventories reached an 11-month high, influenced by low trading volumes during the Chinese Lunar New Year. Market analysts note that uncertainties regarding supply and geopolitical factors continue to play a role in pricing dynamics. From the international front, indirect U.S.-Iran nuclear negotiations in Geneva progressed with both sides reaching an understanding on significant guiding principles, although no immediate deal seems forthcoming. Meanwhile, tensions remain as Iran conducts military drills near strategic shipping routes, which could affect global oil trade.