FER: Mixed set of 2Q18 results
We expect these 2Q18 results to have a slightly negative impact on its stock price, mainly due to the renewed doubts on the margins of Construction and Services, and despite the good performance of concessions. Nevertheless, a great part of it are included in our estimates, not expecting it to have a significant impact on our target price (€21.37/share). We maintain our Buy recommendation.
Ferrovial is a transportation company based in Spain. Co. is engaged in operations in the transportation sector. Co. specializes in the design, construction, management, administration and maintenance of transport infrastructures. Co.'s services range also includes the maintenance of parking lots, and land-, sea- and air-based transport networks. Co. is also engaged in the promotion and operation of short-stay parking lots, parking regulation and management services and promotion and sale of residents' parking.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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