Kepler downgrades Acciona after shares jumped 36% in February

Acciona SA

02/03/2026 08:58

** Kepler Cheuvreux downgraded Spain's Acciona ANA.MC to 'reduce' from 'hold' after the company's recent rally

** Shares in the construction and energy conglomerate gained about 36% in February, helped by a 12% jump on Friday, after its full-year results

** "Acciona has successfully executed its rebalancing strategy initiated in early 2024 — accelerated deleveraging (net debt/EBITDA down to ~2.2x), energy asset disposals and diversification into Concessions and Water," Kepler says

** Still, the brokerage has upgraded its target price to 213 euros ($249) from 190 euros, around 11% lower than its current trading price

 ($1 = 0.8543 euros)

 (Reporting by Javi West Larrañaga)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))