Renta 4 | Ferrovial, along with its partner Carlyle, could invest 1 billion dollars (approximately 880 million euros and accounting for 7% of the group’s construction portfolio) to build the new terminal at New York’s JFK airport. The concession period would last until 2060 and Ferrovial-Carlyle would hold 51%, according to the news.
Valuation: Positive news, both at the quantative level (the size of the project) and the qualitative level (the diversification of its airports portfolio into one of the leading airports in the world). We reiterate our positive vision of the stock with the recommendation of OVERWEIGHT, T.`P. under review: