Alphavalue/DIVACONS | Shares in the Spanish IT services and consulting company fell by 2.93% on Monday following the agreement reached between the Spanish government and NATO. This agreement exempts Spain from spending 5% of GDP on defence in exchange for meeting certain ‘capacity targets’ over the next four years.
Specifically, Spain will spend 2.1% of GDP (compared to the current 2%, recently increased in April). Last week, Indra had already fallen sharply on the stock market after Pedro Sánchez rejected increasing military spending to 5% of GDP.
In any case, despite Sánchez having sold an agreement with NATO, the organisation contradicted the Spanish Prime Minister and raised the pending military spending by €22 billion.
Indra: Sell, Target Price €26.9 per share
