(CercleFinance.com) – ACS (Actividades de Construcción y Servicios) yields just under 1% to Madrid, notably penalized by an analysis by UBS which downgrades its recommendation on the stock from ‘buy’ to ‘neutral’ with an objective price reduced from 31 to 30.4 euros, a level roughly in line with the share price of the Spanish construction group.
‘ACS had a strong performance’ acknowledges the broker in its research note, while now seeing ‘limited upside potential and some headwinds affecting free cash flow generation’.
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