Acciona’s shares are trying to regain momentum after last Friday’s sharp decline when the company revised down the earnings forecasts for its renewable energy subsidiary. By mid-morning, the shares rose by 1.21%, reaching 117.40 euros within an IBEX 35 that is up 0.22% at the same time, following a 7.12% drop in its last session.
Year-to-date, the stock has fallen by 12.30%, with a market capitalization of around 6.412 billion euros.
Today, analysts from AlphaValue/Baader Europe adjusted their valuation of the company, reducing the potential they see in it. The analysis firm maintains its ‘accumulate’ recommendation but lowers the target price to 142 euros per share, down from the previous 146 euros.
Despite this reduction, the new valuation represents an upside potential of 22.4% compared to last Friday’s closing price and 20.9% compared to its current trading price.
Last week, Acciona lowered the EBITDA forecasts for its renewable energy subsidiary for the full year 2024, which were announced at the beginning of the year. This adjustment is due to current price forecasts and lower-than-expected production.
The initial forecast provided by the company last February was 1.1 billion euros in EBITDA, or 1.4 billion euros including gains from divestment processes, representing a growth of between 5% and 10%. Now, this growth will be lower.
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