Santander has raised its price target for GEK TERNA shares to €58 from €53 previously (April 15). The international firm maintains an “Outperform” rating, forecasting upside potential of nearly 40% relative to the stock’s closing price on June 2.
According to Santander’s analysis, GEK TERNA is a top investment pick in the European infrastructure sector. In a macroeconomic environment marked by inflationary pressures and potentially low economic growth, GEK TERNA is a defensive choice, supported by four key pillars:
- Long-term road concessions: These account for 75% of the company’s total enterprise value (EV).
- Strong construction sector: The total backlog stood at €8.8 billion as of March 31, 2026.
- Sound financial structure: Net recourse debt remains low and is declining rapidly.
- Strategic growth through an exceptionally large portfolio of new greenfield concessions.
It should be noted that the GEK TERNA Group strengthened its performance in the first quarter of the year. It reported revenue of €992.6 million, operating profit of €165.9 million (+22.4%), and adjusted net profit of €34.6 million (+33.2%).