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Merlin Properties new

Ibex, Markets 1st September 2025

Investors should not resist data centre trend, even if valuations appear high; EW maintained for Merlin Properties

Morgan Stanley | Our analyst Bart Gysens continues to see attractive risk/return in EU real estate, although he prefers to focus on idiosyncratic stocks while awaiting a turnaround in bond yields. In the logistics sector, which is under greater pressure, he believes we have already passed the peak of deterioration in sentiment and demand, with CTP being his top recommendation. In terms of relative value, he prefers office stocks in…

Santander EEUU

Companies, Ibex 28th August 2025

Santander’s ROTE could approach 20% if lack of profitability in US retail business addressed

Morgan Stanley | Our analyst Álvaro Serrano reiterates Santander as his Top Pick, raising his target price from €8.30 to €9.50, while analysing what could lead to a ROTE of 20%. With capital stabilised and excess capital redistributed, Serrano believes that Santander’s global platform and the normalisation of profits in Brazil will drive the next phase of growth. He revises his profit estimates upwards by 7-8% for 2026/27, remaining 9%…

iberdrolacocheelectrico

Companies, Ibex 28th August 2025

Iberdrola to install electric vehicle charging points at Alimerka supermarkets in Asturias, Castile and León, and Galicia

Link Securities | Alimerka and the electricity company have reached an agreement to install charging points of different power ratings for electric vehicles in the three autonomous communities where the Asturian distribution group currently has supermarkets (Asturias, Castile and León, and Galicia), according to the newspaper Expansión. According to the joint statement issued by both companies, the agreement provides for the installation of 238 ultra-fast chargers, located in the car…

Telefonica Murtra 1

Companies, Ibex 22nd August 2025

Telefónica: doubts about possible capital increase punish stock by 4.81%

CdM | Doubts about a possible capital increase by Telefónica punished the stock by 4.81%, recording the worst performance in the index. According to vozpopuli.com, TELEFÓNICA (TEF) is considering the possibility of carrying out a capital increase, which would be approved in the coming weeks. The operation, according to this media outlet, would have the support of the main shareholders: the State, through SEPI; the Saudi operator STC and CriteriaCaixa….

Caixabank kio 2

Companies, Ibex 18th August 2025

Caixabank executes 53.47% of share buyback in programme’s ninth week

Alphavalue/DIVACONS | The Catalan bank executed 53.47% of its share buyback in the ninth week of the programme, whose maximum amount has been set at €500 million, according to information provided by the entity to the National Securities Market Commission (CNMV) on Friday. Specifically, in this new week of the programme, it acquired 2,237,802 shares at a weighted average price of £8.6738 and a total amount of £19.4 million. Meanwhile,…

gestamp edificio

Companies, Markets 18th August 2025

Gestamp has little potential from current levels: Sell, P/E €3.3/share

Bankinter | Gestamp (GEST) surprises in Q2 with improved margins despite sales figures. For 2025 as a whole, it reiterates its guidance. However, we believe it will be difficult to meet its revenue growth target. At constant exchange rates, sales grew less than the average production in the countries where the company operates (-0.9% versus +3.7% for the market) at the end of the first half. In fact, following these…

iberdrola avangrid eeuu 2

Companies, Ibex 14th August 2025

Iberdrola subsidiary Avangrid generates 13,000 gigawatt hours of energy in US in 1H25

Alphavalue/DIVACONS | The Spanish utility company, through its subsidiary Avangrid, generated around 13,000 gigawatt hours (GWh) of energy in the United States in 1H25, which is equivalent to enough electricity to supply around 2.4 million homes in the country. Specifically, the group chaired by Ignacio Sánchez Galán has a total of 80 electrical facilities in operation from coast to coast, with a combined generation capacity of more than 10.5 gigawatts…

Aena nuevita

Companies, Ibex 13th August 2025

Aena exceeds 32 million passengers; year-to-date traffic rises 4.1%

Intermoney | Aena (AENA) (Hold, Target Price €24) announced its passenger traffic figures for July 2025 on Tuesday after the market closed. The figures for Spain showed an increase of 2.7% last month, exceeding 32 million passengers, of which nearly 12 million were distributed between Barajas and El Prat, which increased their figures by slightly less than 1% and almost 3%, respectively. Among the other major airports, Malaga (8%) and…

naturgy

Companies, Ibex 5th August 2025

Naturgy announces accelerated placement and bilateral sale of 5.5% of capital to increase free float

Renta 4 | Naturgy (NTGY) has carried out an accelerated placement of approximately 2% of its capital, 19.3 million shares held in treasury, for approximately €500 million. This represents a price per share of €25.9 and a discount of 7.1%. In addition, it has agreed to sell up to 34.1 million shares, also held in treasury, representing approximately 3.5% of the capital, to an international financial institution. Naturgy has entered…