Exane bumps Ferrovial, expects boost from North American tollroads

Ferrovial NV

25/06/2025 10:26

** Exane BNP Paribas upgrades Ferrovial FER.MC to "neutral" from "underperform" as it turns more positive on the Spanish motorway and airport operator's tollroads in North America, its main assets

** Exane says its value-for-money analysis suggests "significant room to raise tolls" at Canadian 407 Express Toll Route

** However, the broker remains about 5% below consensus on 2025-26 EPS, and says shares look "expensive" likely due to FX effects related to the company's high U.S. exposure

** It raises its PT on the stock by 40% to 42 euros

** Out of 22 analysts that cover Ferrovial, 16 rate the stock "strong buy" or "buy", ​four rate it "hold" and two​ rate the stock "strong sell" or "sell" - LSEG data

(Reporting by Javi West Larrañaga)

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