MBA Mortgage Applications -1.4% vs 10.9% Prior
On Tuesday, CFRA analyst Jeff Wong upgraded AENA SME SA (AENA:SM) (OTC:ANYYY) stock rating from Hold to Buy and increased the price target to €268.00 from €235.00. The upgrade reflects a positive outlook on the company’s performance, citing sustained momentum in passenger traffic and strong commercial operations. Wong’s assessment is based on a 2025 EV/EBITDA multiple of 12.0x, which applies a 9.5% discount to the company’s long-term average of 13.3x. This discount is attributed to the current macroeconomic uncertainties.
The analyst also adjusted earnings per share (EPS) forecasts upwards, setting them at €13.59 from €13.38 for 2025 and €14.42 from €14.20 for 2026. The revision is supported by the continued growth in earnings and margin expansion expected over the next two years. AENA’s key airport networks, including those in Spain and London Luton, have demonstrated resilience, contributing to the optimistic projections.
AENA’s financial health has also been a factor in the upgraded rating. The company has reduced its net financial debt to €4.9 billion, down from €5.5 billion at the end of 2024. Concurrently, the net debt/EBITDA ratio has been lowered to 1.37x from 1.57x. According to Wong, these figures place AENA in a favorable position compared to its regional peers, indicating a stronger balance sheet.
The report emphasizes AENA’s progress in managing its finances and the positive impact of its strategic operations on the company’s growth trajectory. Wong’s analysis suggests that AENA’s performance, alongside the reduction in financial liabilities, positions the company well for future development amidst a challenging economic landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.