Mota Engil slides nearly 8% on likely profit-taking, analyst says

Mota-Engil, SGPS

27/05/2025 12:44

** Shares of Portugal's Mota Engil MOTA.LS fall 7.7% after reporting Q1 results, with one analyst pointing to possible profit-taking

** Joao Queiroz, the head of trading at Banco Carregosa, says the move may seem counterintuitive at first given the "solid results" and a "significant" contract with Petrobras

** But he notes the news come against the backdrop of the shares' strong 50% YTD run and 7.2% rise in last 12 months, which could have led some investors to take their gains

** Queiroz also points to 22% drop in Latin America turnover, which "may have generated doubts and uncertainties about the continuity of the operating rhythm in the region"

** The shares are on track for their worst day since January 7, when they closed 10.5% lower

 (Reporting by Tiago Brandao)

 ((Tiago.Brandao@thomsonreuters.com;))