If last year it was the year of the East Banking Banking, without a doubt, it is that of the sector linked to defense and weapons. The geopolitical context has hardened more if possible and the different blocks, before what may happen in the coming months and years, have decided to start a reload so that defensive sovereignty falls on each one.
In this context, the clearest beneficiary of the Spanish market is Indra, as it is being reflected in its evolution in the stock market. The different news on a European agreement to increase investment in defense as well as the specific stimuli package announced by the new German government have fed the appetite of investors by the Spanish company, which which already bounces more than 50% So far this year, quoting at levels not seen before.
For analysts who follow the evolution of the company now chaired by Ángel Escribano after Marc Murtra’s departure to Telefónica, his actions can no longer continue advancing in the parquet having already exhausted all its journey Alcista, and that in recent days they have also raised their average valuations up to 25.4 euros per share.
The company is in full transition from technological to the defensive industry and that is why it is in advanced conversations to place its Minsait subsidiary to a third party, in this case, it seems that the APAX Partners fund is the best located, for a amount close to 1.5 billion euros that will serve to continue growing in defense and aerospace, where, remember, HISPASAT have already acquired.
“The liquidity of investors is going to this sector and that is why the rally that this industry is starring, which lived its best day in history on Monday last week,” they explain in Goldman Sachs. In its last results presented it beat the expectations at the operational level and marked a guide for this year superior to what the market expected. These are some Income of more than 5.2 billiona EBIT of 490 million and a Free Cash Flow of more than 300. “The new acquisitions will be subject to the monetization of Minsait,” they warn of rent 4.
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