Market Consensus takes a clear punt on 9 Spanish stocks

Stock markets

Iberdrola, Acciona, Almirall, Amadeus, Enagás, Faes, Meliá Hoteles, Merlin Properties and Pharma Mar are the most recommended stocks amongst analysts.

The average weighted target price is 22,6€ (up 22.6% so far this year), while the average weighted market price is 20,9€ (up 29.7% so far this year). So the average weighted discount between the share price and the target price is 7.5%

The Price/Average weighted earnings ratio is 18,7x (up 14.9% from end-last year); the inverse of this ratio gives an earnings per share of 5,4 euros (a 12.9% decline from a year earlier).

The average recommendation is 2,71 points, slightly more on the buy side than at end-last year. (Between 1 and 2 points is considered a “clear buy” and between 3,5 and 5 points is a “clear sell.”

There are currently 24 stocks on the buy side (between 1 and 2 points), compared with 22 at end-2015. These are: Inditex, Amadeus, IAG, Prosegur, DIA, Melia Hotels, Almirall, NH Hotels, Faes, Pharma Mar, Acerinox, Elecnor, Abertis, ACS, Acciona, Merlin Properties, Iberdrola, Red Eléctrica, Enagás, BBVA, Bankia, Banco Sabadell, Catalana Occidente and Bolsas y Mercados.

There are 11 stocks on the sell side (between 3,5 and 5 points), compared with 15 at end-2015. These are: Prisa, Deoleo, Zardoya, Ence, Cementos Portland, Abengoa, Uralita/Coemac, Inmobiliaria Colonial, Realia, Solaria and Banco Santander.

To prepare its market consensus, Consensodelmercado.com uses the valuations from the following research houses: JP Morgan,

Stocks

Target Price 

EPS

Recommendation

TELEFONICA

10,64

0,53

2,33

BANCO SANTANDER

4,20

0,47

3,50

BBVA

6,50

0,67

2,00

INDITEX

36,60

1,05

2,00

IBERDROLA

6,90

0,39

1,00

ABENGOA

0,22

0,02

5,00

ABERTIS

15,70

0,79

2,00

ACCIONA

88,40

4,00

1,00

ACERINOX

11,45

0,17

2,00

ACS

35,10

2,62

1,67

ALMIRALL

17,37

0,47

1,00

AMADEUS

44,40

1,69

1,00

ARCELOR

4,40

0,21

3,00

ATRESMEDIA

14,70

0,67

3,00

BANCO DE SABADELL

1,85

0,15

2,00

BANCO POPULAR

1,69

0,23

3,33

BANKIA

0,95

0,10

1,50

BANKINTER

6,00

0,48

3,00

BME

31,63

1,93

2,00

CAIXABANK / CRITERIA

3,20

0,20

3,00

CELLNEX TELECOM

13,50

0,30

2,50

CEMENTOS PORTLAND

4,28

0,01

4,00

CORPORACIÓN ALBA

34,50

3,50

3,00

DEOLEO / GRUPO SOS

0,36

0,02

4,00

DIA

6,65

0,32

2,00

EBRO FOODS

18,50

1,11

3,00

ELECNOR

11,40

1,30

2,00

ENAGAS

30,15

1,77

1,00

ENDESA

19,60

1,19

3,00

FAES

3,00

0,14

1,00

FCC

8,20

0,33

3,00

FERROVIAL

20,95

0,96

3,00

G. CAT. OCCIDENTE

35,92

2,60

2,00

GAMESA

20,05

0,95

3,00

GAS NATURAL

18,25

1,44

3,00

GRIFOLS

23,40

0,99

3,00

GRUPO ENCE

10,66

0,35

5,00

IAG

6,35

0,82

2,00

INDRA

12,29

0,37

3,00

INMOBILIARIA COLONIAL

5,50

0,30

5,00

MAPFRE

2,40

0,26

3,00

MEDIASET – TELECINCO

12,00

0,32

3,00

MELIA HOTELS

11,60

0,40

1,00

MERLIN PROPERTIES

12,20

0,59

1,00

NH HOTELES

5,40

0,20

2,00

OHL

4,70

0,23

3,00

PHARMAMAR (ZELTIA)

4,41

0,06

1,00

PRISA

3,50

0,55

5,00

PROSEGUR

5,60

0,34

2,00

REALIA

4,56

0,02

5,00

RED ELECTRICA

20,93

4,83

2,00

REPSOL

14,03

0,44

2,50

SACYR VALLEHERMOSO

2,75

0,18

3,00

SOLARIA

0,86

0,12

4,00

TECNICAS REUNIDAS

27,50

2,20

3,00

TUBACEX

2,03

0,08

3,00

URALITA/COEMAC

0,89

0,06

5,00

VIDRALA

49,40

2,74

3,00

VISCOFAN

57,30

2,77

3,00

ZARDOYA OTIS

7,70

0,35

5,00

 

Consensodelmercado.com uses analysts’ reports by JP Morgan, BNP Paribas, Fortis, Santander, BBVA, La Caixa, Bankia, Ahorro Corporación, Analistas Financieros Internacionales, Banesto, Bankinter, Banco Sabadell, Banca March, Mirabaud, Venture, Self Bank, Renta 4 and Link Securities.