Wednesday, August 10, 2022
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Indra: BNP pours a bucket of cold water on his rebound attempt

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Indra, which has fallen more than 5% during the first stages of trading, falls 1.98% mid-morning to 8.65 euros within an Ibex 35 that at the same time advances 0.83 %. In the accumulated of the year the titles are left more than 8.5%, which has left its market capitalization in the environment of 1,500 million euros.

The stock, which closed up more than 2% yesterday, is back in the red after analysts at Exane BNP cut their recommendation to ‘underweight’ from ‘neutral’ earlier.

The cut is a jug of cold water for Indra, which had attempted a rebound on the Stock Market after learning that Norges Bank had raised its stake to 3.67% of the capital, its largest weight in the Spanish technology company since September 2019.

After this cut, BNP experts are among the most pessimistic covering the stock. According to data compiled by Reuters, analysts give Indra a ‘buy’ recommendation on average, with a target price of 12.33 euros that is more than 45% above the current price.

Last week, Indra announced that it obtained a net profit of 66 million through June, 19.9% more than in the same period last year.

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