The Ibex 35 has not yet managed to definitively reach 12,000 points (it reached them intraday on different occasions), but Analysts already suggest that his career will even take him to exceed 13,000 points in the coming months.
Concretely, they set the price target for the Spanish index at 13,275 points, the highest valuation since the end of 2010, in the midst of the peripheral debt crisis. Furthermore, this estimate leaves the selective of 35 an upside potential of 14% for the following months, which would be added to the 15% increase recorded in 2024.
Since the first time the Ibex 35 reached 13,000 points almost 20 years ago. On October 5, 2006, the national index exceeded this level for the first time. and began a virtually uninterrupted rise that led it to reach all-time highs just over a year later, on November 8, 2007, at 15,945 points. Since then, there have been up to six other occasions where the selection has crossed the 13,000 points mark. The last time it was listed at this level was June 5, 2008. From then on, the crisis that began revolving around Lehman Brothers, followed by its fall a few months later, led to a downward spiral which led the Ibex to fall to 6,817 points in March 2009, meaning a return to 2003 levels. In just seven months, the index lost more than 57% of its value.
Now, analysts are already expecting an eighth overtaking of this level by the Ibex 35 and hope that it will be achieved in the next 12 months. The potential that the selective receives is, moreover, the largest among the fastest growing indices in 2024: it exceeds 9% and 10% of the S&P 500 and the Nasdaq 100. The two American indices recorded increases of more than 20% over the year. In Europe, the English stock market has the greatest potential, 12%, but its annual increase is 9%. The Cac, with a revaluation in the year of less than 1%, also presents a trajectory of 12%, and the EuroStoxx 50 and the Dax around 11% in both cases (these selectives record annual increases of 10% and 17% respectively). .
This 2024 is also the second consecutive bullish year for the Spanish index, after the gains it made in 2023 of 22.8%. The last time the Ibex 35 managed to string together two positive years was ten years ago, when it gained 3.7% and 21.4% in 2013 and 2014, respectively. In the event of closure, in addition, Currently underway, and less than two months until it finally is, this would be the second most bullish year of the decade, after 2023’s gains (see chart).
It’s also worth remembering that the dividend-paying Ibex 35 has continued to hit all-time highs this year. The remuneration is not included in the common index because otherwise it could not be included in the futures market.
The 35 Ibex companies with the greatest potential
The trajectory that experts estimate for the Ibex 35 for the coming months is based on the good performance they expect from the 35 companies that make up the index. In fact, more than half of the members of the main selective of the Spanish market have an upside potential greater than 20%. And up to seven companies are increasing that figure above 30%. At the head of all are Grifols, rovi And Cellnex.
The blood company was plunged into crisis earlier this year following the release of a Gotham City Research report that alleged the company had hidden or altered relevant business figures and highlighted that its stock market value was falling. zero. The company carried this black spot in your file and loses more than 29% of its value this year (it is the second most bearish firm on Ibex during the year, after Solaria). Despite the doubts that may have arisen regarding pharmacythe truth is that analysts have not stopped trusting his behavior and not only give him a buy recommendation for his shares, but also the greatest upward journey of the Ibex, by 49%. A potential which, moreover, would allow him to forget the bad drink from 2024 on the stock market.
During this year, Rovi saw annual increases of more than 50%, but is now reducing them to less than 5%. Experts, however, see these corrections as a new opportunity to enter the pharmaceutical business; in fact, they consider the moment to be the best since November 2022. With its buy recommendation, it also positions itself as the best recommendation of all the Ibex 35. Invest now in pharmacy For experts, this amounts to opting for revaluations of 48% in the following months.
Cellnex shares are trading at July levels below 32 euros, widening their losses over the year to more than 11%. At the beginning of last October, the teleco It reached year highs above 36 euros per share, implying a return to summer 2023 levels. Since that peak, which occurred about a month and a half ago, the correction of its titles is close to 15%. Analysts, however, are optimistic and are pricing in their actions a potential increase of 43% for the coming months, up to 45.17 euros which establish an average indicative price. The company has not traded at this price since April 2022.
Above 40%, experts also expect Acerinox shares to rise in the coming months. The steel group is experiencing an end of cycle which is already reflected in its income statement. That same Tuesday, the company presented its results for the third quarter of the year, in which profit halved and Acerinox admitted that activity will continue to decline in the next quarter. However, with the 13.31 euros that experts set as the price target They expect the company to return to April 2017 levels in the coming months.
Solaria is, by far, the red lantern of the ibex in 2024. The company suffers losses in the Spanish market of 47% and during this year it has established new historical lows below 9.50 euros. Despite this, analysts expect that over the next few months their shares will take off and head their way. an upside potential of 39%.
