Caixa BI recommends buying Mota-Engil shares and raises the target price to €6.20

Artur Amaro, analyst at Caixa-Banco de Investimento, signs off research From Motta-Engel shares. Caixa BI recommends Buy (He buys) for the shares and gives a target price of €6.20 for Mota-Engil.

The company's shares rose 1.94% on the stock exchange to 5.26 euros.

“We have updated our estimates for Mota-Engil, including the main trends for the nine-month 2023 trade update and have renewed the assessment,” says Caixa BI.

Mota-Engil's share price has risen by approximately 153% over the past 12 months, rising from €1.72 to €5.11. At the same time, several events occurred that changed the investment landscape, including the appointment of a new CEO and management team, several important contracts were signed in Africa and Latin America, the Central European operation was sold, and the strategic objectives for 2026 were significantly achieved. Adds analysis.

“In our opinion, the company is well positioned to achieve most of the objectives of its strategic plan (2022-2026), focusing its activity on core markets (Mexico, Brazil, Nigeria and Angola), as well as prioritizing operational improvement and improving profitability,” says Caixa BI, Which recognizes the potential for appreciation in equity history with the high-speed train (TGV) project in Portugal, which is not yet included in our current estimates, with the award of its first subcontract for this project. year.”

Hey Market value The company's value is 1,567.63 million euros, according to the investment bank.