Aena: UBS still a buyer after quarterly update.
(CercleFinance.com) - This morning UBS confirmed its buy rating on Spanish airport operator Aena, while the share has been battered on the Madrid stockmarket (-3%) after the group announced its quarterly results.
The broker also maintains its target price of 192 euros, which suggests upside potential of around 30%.
According to its research report, overall, Aena's nine month sales were "in line with consensus expectations," at nearly 3.1 billion euros. The same applies for EBITDA and net income.
Analysts note that sales rose by approximately 7%, while EBITDA is up around 11%, which comes in addition to a reduction in supplier costs and operational leverage.
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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.
The broker also maintains its target price of 192 euros, which suggests upside potential of around 30%.
According to its research report, overall, Aena's nine month sales were "in line with consensus expectations," at nearly 3.1 billion euros. The same applies for EBITDA and net income.
Analysts note that sales rose by approximately 7%, while EBITDA is up around 11%, which comes in addition to a reduction in supplier costs and operational leverage.
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.