Aena: BarCap upgrades to buy again.
(CercleFinance.com) - Barclays Capital (BarCap) believes it is time to be more aggressive on the Spanish share Aena, which remains analysts' favourite European airport operator.
Having adopted a buy ("overweight") rating, analysts maintain their target price at 170 euros.
While it exceeded 180 euros at the beginning of June on the Madrid Stock Exchange, the Aena share has now fallen back to under the 150 euro threshold.
“We think that valuation has returned to an attractive level for an asset that offers both near-term growth as passenger momentum appears to be continuing as well as a longer-term cash flow outlook that appears both high and sustainable,” the broker says in its report on the share.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Having adopted a buy ("overweight") rating, analysts maintain their target price at 170 euros.
While it exceeded 180 euros at the beginning of June on the Madrid Stock Exchange, the Aena share has now fallen back to under the 150 euro threshold.
“We think that valuation has returned to an attractive level for an asset that offers both near-term growth as passenger momentum appears to be continuing as well as a longer-term cash flow outlook that appears both high and sustainable,” the broker says in its report on the share.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.