Monday, May 29

Acciona presents a potential of 20% in the Ibex

Acciona keeps an eye on its awards while looking askance at the performance of its energy subsidiary on which in this January it is thought whether to place 8% more in the market. However, the situation right now does not seem to be the most suitable for either of the two companies, although especially for renewables.

While heAnalysts continue to postulate on value, with RBC, the last to do it projecting a target price on the value up to 185 euros per share compared to the previous 180, which gives it a potential upside revaluation in the market of 20%. In the same line it shows intermoney, that bets on buying the value in the market, while placing its target price at 200 euros per share.

On the other hand, we also collect the recommendation of Bank of America that projects a price of 179 euros per title, while, from Barclays, with a price raised to 152 euros from the previous 150, they consider that its value in renewables is already included in its price for up to 9 years. While from Alphavalue, they choose to reduce, with a target price of 157 euros per share and in Bankinter they consider that their PO is placed at 168.4 euros per share of Acciona.

In its price graph we see that the value, with yesterday’s rebound, cut its annual losses to 8.2% while its falls in the last 20 trading sessions are already below double digits and it moves away from the annual minimums marked in this 2022 by 5%.

Acciona annual stock price

For José Antonio González, technical analyst of Investment Strategies, in Acciona “the strong correction offrom historical highs at 172.70 euros per share has come to violate the bullish guideline and the medium-term support zone that we identify between 156.10 / 153.90 euros. This drop could be a false breakout of support to purge all the overbought excesses. The next support zone is located at 137.60 / 136.70 euros per share and the simple moving average of 200 periods or long term”.

Trade on daily chart with Average Amplitude Range in percent, MACD oscillator and trading volume

Acciona technical analysis of the value

Regarding the technical indicators prepared by Investment Strategies, in consolidation mode for the value and with a drop of two points, your total score reaches 6.5 points out of 10 possible for value.

With a long-term bullish trend, but a medium-term bearish one, positive slow and fast total moment, mixed volume of business, decreasing in the medium term and increasing in the long term. Regarding the volatility of the value, measured in its range of amplitude is marked increasing in the long term and decreasing in the medium.

While in Chile, Acciona, Sacyr and OHLA will compete with the Chinese company CRCC to take over the construction works and 15-year concession of the Coquimbo hospital, in a contract valued at 265 million euros. The four companies have passed the technical requirements to be part of the bid and have an economic offer to present this month.

It will also fight ACS and Ferrovial for a million-dollar investment contract in Australia, where the government has launched a large-scale infrastructure project that represents an investment of 70,000 million euros over a period of 10 years and that includes the construction of railways, highways and also subways.

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