Bank of America sees Ferrovial needing up to €14–15 billion, keeps €60 target

what happened

Bank of America projects that Ferrovial (FER) could require roughly €14–15 billion for its Georgia I-285 East and Tennessee I-24 projects. The bank also expects the parent company's net cash to reach about €1.7 billion by the end of 2026 and surpass €13 billion by 2035.

ACS and Acciona have filed lawsuits against Ferrovial over its award of the I-24 highway project in Tennessee, disputing the contract within the American concessions market.

After the Atlanta concession award, Ferrovial's stock dropped in Spain and on the Nasdaq before recovering its footing. Bank of America kept its €60 price target, which according to the bank implies roughly 39% upside from earlier levels. Source: TradingView, with a summary generated by AI.

why it matters

Ferrovial is a major infrastructure concessionaire, so the scale of potential financing and the legal challenges matter for its share price and for the toll-road segment more broadly. Projections for net cash also show whether the group can fund these projects from its own resources.

market impact

Ferrovial and concession sector: financing risks and legal challenges weigh on FER shares

tags

instruments