Ferrovial, very close to its roof in the Ibex 35

Ferrovial is very close to reaching its all-time high in the stock market

A day of modest progress for Ferrovial, which registered a revaluation of 0.28% in the early morning to 28.98 euros within the IBEX 35, which rose 0.37% at the same time. The price accumulated a revaluation of 18.4% so far this year, which has boosted its market capitalization to €21,375 million.

However, everything indicates that Ferrovial is close to its ceiling. or at least they think so JP Morgan Analyst, however today they have decided to increase The target price of its shares, it becomes 28 to 29 eurosPractically in line with the present value.

Analysts at JP Morgan also do not stray far from the general opinion of analysis houses. The average of analysts covering Ferrovial has a ‘buy’ recommendation, according to data compiled by Reuters, with a target price of 29.09 euros, a barely 0.55% upside from the current price.

Ferrovial last week announced results for the first three months of the year, a period in which economic profitability (RE), which refers to the company’s average profit for all investments made, totaled 94 million euros compared to 67 last year. , 27% higher.

Sales stood at EUR 1,805 million (+11.2% like-for-like), supported by growth in construction sales (+6.6% like-for-like) and toll roads (+37.0% like-for-like).

EBITDA reached EUR 189 million (+39.4% like-for-like), supported by a higher contribution from Toll Roads (+41.1% like-for-like), notably with a gross operating result of EUR 145 million American Toll Road.

In the first quarter of 2023, net cash ex-infrastructure amounted to EUR 1,343 million. 1,439 million euros in December 2022. Net debt to infrastructure projects was 7,072 million euros (7,219 million euros in December 2022). Consolidated net debt reached EUR 5,729 million (EUR 5,781 million in December 2022).