Yes, there is that possibility but if lightining strikes an outside steel conduit it will take the path of least resistance and if the conduit is not grounded it may very well follow your cable to it's terminated end. If that is your telephone system or your data switch it could be very nasty.
Better your cable catch a little heat as the surge goes to ground then the inside equipment taking the hit and getting fried as well as potentially burning the building down.

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