Bank of America upgraded Spanish airport operator Aena S.M.E., S.A. to Buy from Neutral.
The bank raised its price target for the stock from €25.5 to €30.5. Analysts cited improved traffic growth and commercial segment potential as primary drivers for the upgrade.
Seat capacity data indicates a 6.6% volume growth for Aena in the second half of 2026. This projected growth rate exceeds that of the company's industry peers.
BofA increased its earnings per share estimates by 5-8% for the 2026-2028 period. These revised forecasts sit 3-4% above current market consensus.