Indra stock: Sabadell raises target to 73 euros

Published on 11/04/2026 at 18:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banco Sabadell kept a positive view of Indra amid strong defense demand and growth. A strategy update is scheduled for November 25.

Analyst target and strategy outlook

Banco Sabadell maintained a positive view after raising its Indra target.
Strong nine-month growth was supported by higher revenue, profitability and backlog.
Indra's Capital Markets Day on November 25 is the next major strategy event.

Indra, ES0118594417, Illustration mit AI erstellt.

Banco Sabadell raised its price target for Indra Sistemas to 73 euros per share on November 1, 2026, according to Ad-hoc-news.de. The bank kept a positive view of the Spanish technology and defense group, citing its position as a beneficiary of rising European defense budgets.

Indra stock traded at 60.31 euros on Lang & Schwarz at 18:06 CET on Wednesday, November 4, 2026. Compared with 63.57 euros at 18:22 CET in the previous relevant report on Tuesday, November 3, the quote was 5.13% lower.

Growth supports the revised target

The latest nine-month operating update reported revenue of 4.645 billion euros, up 28.6% year on year. EBITDA increased 62% to 657 million euros, while EBIT rose 42% to 454 million euros, according to the Ad-hoc-news.de report citing Reuters published by Investing.com.

Order backlog reached 22.2 billion euros, an increase of 133% from a year earlier. Free cash flow rose to 1.692 billion euros, but 1.809 billion euros came from prepayments linked to Spain's Special Modernisation Programs. That mix leaves cash conversion an important issue for investors as the programs progress.

Strategy day is the next catalyst

Management reaffirmed 2026 targets for revenue above 7 billion euros, EBIT above 700 million euros and free cash flow above 375 million euros, excluding the relevant defense-program prepayments. Banco Sabadell expects the upcoming strategy presentation to provide more clarity on medium- and long-term growth.

Indra's investor-relations calendar lists the Capital Markets Day for November 25, 2026, in Madrid, as shown by Indra Group. The event should give investors a closer view of capital allocation, margins and order intake.

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