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Barclays cuts Ferrovial's target price to 26 euros due to road braking


Barclays cuts the target price of Ferrovial from 29 to 26 euros per share, according to the latest analysis of the firm published this Friday. Currently, the group chaired by Rafael del Pino it trades above 21 euros. It registers a 2.7% drop, which places it as the second worst value of the Ibex on the day.

In its assessment, Barclays considers that the Ferrovial's highway business has barely improved its activity since June.

However, it expects earnings per share to stand at 0.81 euros this year, compared to the previous estimate of 0.45 euros per share.

On the other hand, for the next year, the estimate of income per share of Barclays Research is lowered from 0.43 to 0.12 euros, according to the aforementioned analysis.

Precisely this week and within the road business, Ferrovial has closed the refinancing of the LBJ Expressway, in Texas (USA). Through the LBJ Infrastructure Group consortium, led by its subsidiary Cintra, has made a bond issue for an amount of 544.5 million dollars, issued with a premium that has raised the amount received to 622 million dollars.

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