Alphavalue/DIVACONS | The Spanish IT services and consulting company has called an extraordinary meeting of its board of directors for this Thursday. The meeting is expected to discuss the merger by absorption of Escribano Mechanical & Engineering (EM&E Group), the family business of its executive chairman and shareholder, Ángel Escribano. This was confirmed to Expansión by sources close to the group’s governing body.
Meanwhile, a leading bank has upgraded Indra’s recommendation from ‘Neutral’ to ‘Buy’. It also raised its target price from €33 per share to €45 per share. This improvement is based on better earnings potential, driven by growth in defence spending across Europe. Our analysts give Indra a downside of -27.6% based on fundamentals after the sharp rises.
Indra shares rose +5.42% on Wednesday.
Indra: Sell, Target Price €27.1/share.
