Cellnex It has been one of the few values of the Ibex that has managed to close on green Wednesday, in fact, it has led together with Acciona the rises of the Spanish selective. And he did it the first day as the fifth company with the largest capitalization after overtaking Telefónica yesterday afternoon.
The communication tower firm is trading at all-time highs, only so far this week it has advanced more than 2% and is on track to close its fourth consecutive month in green. "In this way, Cellnex's shares would recover the strength shown before the episodes of sales panic seen in the markets in the months of February and March, with the outbreak of the coronavirus crisis, "explains Aitor Méndez, an IG analyst.
The 'sorpasso' to Telephone produced at the end of the session on Tuesday has turned Cellnex into the largest firm in the Spanish telecommunications sector by market capitalization. This is thanks to its impeccable year on the stock market, in fact it is the most bullish value of this 2020. Cellnex's advance has not only occurred in the communications sector, it has also surpassed BBVA's capitalization.
"It moves in free climb with no resistance on your way. The company offers a very good technical aspect with the path clear so that we can end up seeing an extension of earnings to the level of 60 euros, "explains César Nuez, technical analyst at ForexNews.online and head of Trader Watch.