Ferrovial: stock edges up, still Morgan Stanley 'top pick'
(CercleFinance.com) - Shares in Ferrovial rise 1.
9 per cent, putting it among the top gainers on Spain's blue-chip index, after Morgan Stanley said the stock remained its "top pick" in the sector and raised its target price from 23 euros to 25 euros.
In a note, the broker -- which keeps an "overweight" rating on the Spanish infrastructure firm -- says the group's American toll roads (>50% of fair value) continue to "improve and surprise".
"This should be capturing more of investors' attention," Morgan Stanley predicts in the report.
"With cyclical recovery an added catalyst, momentum should continue improving," it added.
The Ferrovial stock is currently gaining 1.9 per cent at 20.5 euros while Madrid's IBEX 35 is down 0.3 percent.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
9 per cent, putting it among the top gainers on Spain's blue-chip index, after Morgan Stanley said the stock remained its "top pick" in the sector and raised its target price from 23 euros to 25 euros.
In a note, the broker -- which keeps an "overweight" rating on the Spanish infrastructure firm -- says the group's American toll roads (>50% of fair value) continue to "improve and surprise".
"This should be capturing more of investors' attention," Morgan Stanley predicts in the report.
"With cyclical recovery an added catalyst, momentum should continue improving," it added.
The Ferrovial stock is currently gaining 1.9 per cent at 20.5 euros while Madrid's IBEX 35 is down 0.3 percent.
Copyright (c) 2017 CercleFinance.com. All rights reserved.