Aena: Credit Suisse upgrades to 'buy'

(CercleFinance.com) - Today Credit Suisse has upgraded its neutral rating on the Spanish airport operator Aena to buy ("outperform"), in particular highlighting future growth in passenger traffic.


Although the broker has cut the share's target price by 8% to 167 euros, this suggests upside potential of 15%.

After falling by about 14% since the beginning of 2018, Aena "now appears to be the most attractively valued of the European Airport groups on dividend yield, FCF, and price-earnings multiples," analysts calculate.

However, in 2019, traffic welcomed by Aena airports is expected to increase by 4.6%, Credit Suisse forecasts, which therefore targets revenues and operating profit that exceed the consensus' estimates.



Copyright (c) 2018 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.