🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

RBC raises Acciona SA shares target on improved prospects

EditorEmilio Ghigini
Published 05/28/2024, 04:16 PM
© Reuters.
ANA
-

On Tuesday, RBC Capital Markets adjusted their financial outlook on Acciona SA (ANA:SM) (OTC: ACIXF) shares. The firm increased the price target to €135.00, up from the previous €125.00, while keeping a Sector Perform rating on the stock.

The adjustment follows Acciona's strategic moves, including an increase in ownership of ANE at a price considered to be attractively discounted compared to the Infrastructure Concessions (IC).

Additionally, the firm noted that asset sales and the current state of Spanish power prices have enhanced the short-term prospects for Acciona.

Despite a less favorable revised earnings outlook, the analyst highlighted the positive impact of improvements in the infrastructure sector and in Nordex, a wind turbine manufacturer partly owned by Acciona.

RBC Capital's assessment suggests that Acciona's recent activities have bolstered its market position. However, they also indicated that a reduction in exposure to Nordex would be favorable. The updated price target reflects these developments and the potential they bring to Acciona's financial performance.

The price target increase by RBC Capital underlines the company's recent strategic decisions and market activities, which could influence investor sentiment and market performance of Acciona's shares in the near term. The Sector Perform rating suggests that the firm views Acciona's stock as likely to perform in line with the sector average.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.