Ferrovial sells its stakes in two Greek toll roads for €85mn
We see this news as positive and supportive of a strategy to rotate assets. We expect similar moves in Services business. Nevertheless, we do not expect this disposal to have an impact on the share price given the negligible 0.14% positive impact on our valuation of Ferrovial. We maintain our Buy recommendation and target price of €21.37/share unchanged.
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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