The key information besides the ongoing improvement in the financial performance is the sale of a minority stake in Aqualia which allows the company to deleverage significantly and to double its equity. Following this earnings results, we will rework our model. We expect an increase in our target price that could trigger a change in recommendation from Sell to Reduce.
08 Nov 2018
9m 18: sale of a minority stake in Aqualia is game-changing
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9m 18: sale of a minority stake in Aqualia is game-changing
Fomento de Construcciones y Contratas, S.A. (FCC:FRA) | 0 0 0.9% | Mkt Cap: 3,516m
- Published:
08 Nov 2018 -
Author:
Felix Brunotte -
Pages:
3
The key information besides the ongoing improvement in the financial performance is the sale of a minority stake in Aqualia which allows the company to deleverage significantly and to double its equity. Following this earnings results, we will rework our model. We expect an increase in our target price that could trigger a change in recommendation from Sell to Reduce.