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.
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