Prysmian's Upgraded Rating Reflects Growing Demand for Electricity and Connectivity - 8 Jun 2026

Financial repositioning and new strategic partnerships are driving today’s news cycle, particularly in the technology and infrastructure industries, where Prysmian continues to play a prominent role. Prysmian has received an upgraded rating from Banca Akros, moving from "reduce" to "neutral," alongside a target price increase from 110 euros to 150 euros. Analysts indicate that Prysmian is poised to benefit from a structural rise in demand for electricity and connectivity, spurred by advancements in artificial intelligence and investments in data centers in the United States, particularly due to heightened fiber optic needs. In broader market updates, the European Union is considering tax reforms aimed at reducing electricity costs for consumers. A draft proposal suggests taxing electricity at a lower rate than gas, responding to increased energy prices exacerbated by the ongoing instability in global energy markets linked to geopolitical tensions. Reducing electricity costs could enhance the competitiveness of electric vehicles and heating systems, facilitating a transition away from fossil fuels. Turning to the international stage, Israel has intensified its military activities against Iran, striking petrochemical facilities amidst escalating tensions coinciding with U.S. diplomatic pressures. This escalation complicates U.S. efforts to mediate a broader agreement with Iran, contributing to a significant rise in oil prices. Amazon has finalized a multi-year, multibillion-dollar agreement with Corning to supply optical fiber and connectivity solutions for data centers. This partnership not only reflects Amazon's growing infrastructure demands but will also result in the creation of 1,000 jobs at Corning's facilities in North Carolina, thus strengthening the U.S. supply chain for essential fiber-optic technology. Corning's stock rose following this announcement, indicating a positive market response to the deal. Additionally, Nvidia's CEO, Jensen Huang, has secured crucial partnerships with South Korean technology giants, including SK Hynix, to address the growing demand for AI-related memory chips. These agreements emphasize the strategic alliances that are forming in response to the increasing needs of the AI sector, reflecting a broader trend of consolidation and collaboration in technology.