Refile: BUZZ-Morgan Stanley upgrades Indra to 'overweight' on underappreciated defence spending

Indra Sistemas SA

14/07/2026 07:19

Refiles to fix typo in company's ticker symbol
** Morgan Stanley upgrades Spanish IT and defence systems maker Indra DR.MC> to "overweight" from "equal-weight," citing underappreciated defence equipment spending and potential earnings upgrades 
** Broker's top-down analysis shows Spanish defence equipment spending is set to nearly double by 2030, driven by the €34 billion ($38.72 billion) Special Modernization Programs, while domestic procurement accelerates
** It forecasts the defence division will become the group's largest business by 2030
** It notes the management reset creates scope for further material M&A and the opportunity to hit 2030 revenue target as early as 2028
** Space is emerging as a structural growth driver targeting around €1 billion of revenues by 2030, while air traffic continues to deliver high-quality growth, it adds
  ** Out of 18 analysts that cover Indra Sistemas, 13 rate the stock "strong buy" or "buy,"​four rate "hold" and one rates the stock "sell" - LSEG data


($1 = 0.8781 euros)

 (Reporting by Marta Serafinko in Gdansk)
 ((marta.serafinko@thomsonreuters.com))