DB upgrades Spain's ACS on US data-centre exposure, shares rise

HOCHTIEF AG

12/08/2026 10:02

** Shares of ACS ACS.MC rise 2.5% after Deutsche Bank upgrades the Spanish construction group to "buy" from "hold", citing its exposure to Turner Construction's AI- and data-centre-driven growth in the U.S.
** Turner is the top U.S. contractor and a major beneficiary of demand for data-centre construction, DB says
** ACS, through its 80% stake in Hochtief HOTG.DE, is the ultimate parent of Turner and Australian engineering and construction firm CIMIC
** DB also raises the Spanish group's target price by more than 61% to €140 ($161.50), versus Tuesday's closing price of €108.30
** Out of 19 analysts that cover ACS, nine rate the stock "strong buy" or "buy", ​seven "hold" and three​ "strong sell" or "sell" - LSEG data
($1 = 0.8669 euros)

(Reporting by Gemma Guasch)
((Gemma.guasch@thomsonreuters.com))