The price of Iberdrola wants to continue making history in 2024. This same Tuesday, the shares of what is the largest electricity company in the Spanish market reach for the first time in its entire stock market history, 14 euros and its capitalization marks a new record at 89.545 million euros.
Only this Tuesday, the titles of utilities chaired by Ignacio Galán recorded a revaluation close to 2% (in the best moments of the session the company even exceeded an increase of 2.5%) and its increase over the year is already close to 19% (This would be its most bullish stock market exercise since 2020, when it rose 27.5%).
“In terms of valuation, we believe that Iberdrola’s current share price takes into account the value of eleven years of renewable energy projects, above the average for renewable energy developers. In our opinion , it fully reflects Iberdrola’s strong growth ambitions in this market, “and also takes into account the prices of the second largest renewable energy pipeline in the entire renewable energy sector,” Barclays explained in a report this Tuesday.
Currently, Iberdrola shares are rising faster than analyst valuations. But there are those who have already taken the lead: up to seven investment banks have set the value of Iberdrola’s securities above 15 euros, which, at current levels, still gives them a potential increase of 7% for the coming months.
In fact, one of the most attractive valuations comes from heavyweight Goldman Sachs even predicting its stock price will hit 16 euros per share, which would help. Iberdrola will exceed 100 billion in market value for the first time in its history. In addition, from Renta 4 they see Iberdrola above 16 euros, specifically at 4:30 p.m.
Next results
On October 23, Ibedrola will announce its results for the third quarter of the year. Experts expect the company to announce a net profit of 982 million euros, which is 12% less than the same period of the previous year. Despite this, for the whole of 2024 they project historic net profits of more than 6 billion euros, supported by the sale of assets in Mexico.
