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Morgan Stanley believes exhausted the upside potential of Iberdrola, mainstay of the Ibex

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TO Iberdrola he has little margin to climb. It says Morgan Stanley in its latest report on the Spanish 'utilitie', and one of the pillars of the Ibex 35. "The company has already discounted what it had to discount," says the US entity.

Thus, Morgan Stanley lowers the target price to Iberdrola from 11 to 10 euros per share, with the value currently trading at 10.36 euros.

The US investment bank also reiterates its recommendation to 'keep' the titles of the 'utilitie', although it recognizes "the strength of its history and the many attractions that the action can present." Morgan Stanley recalls that Iberdrola "offers a mix of great benefits and defensive exposure, combined with its leadership in the business of solar and wind energy at the European level."

The latter allows you "offer high exposure to renewable energy and its progress". In addition, the American highlights "the very positive track record of project execution" of the group.

"VERY GOOD SIGNAL IN IBERDROLA"

From a technical aspect, the analyst of ForexNews.online, Cesar Nuez, stressed this week that there is "a very good sign at Iberdrola when it overcomes the resistance of 10.27 euros". The formation of a throw back at the level of 9.50 euros is confirmed and it seems "highly probable that we will end up seeing an extension of earnings to the level of 11.34 euros, historical highs drawn this year", concludes Nuez.

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