J.P. Morgan cuts target for Ferrovial stock to EUR 50

Published on 10/07/2026 at 10:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Target fell from EUR 65.00 to EUR 50.00 on October 6, 2026. Ferrovial stock costs EUR 46.07 on October 7, 2026 versus EUR 45.70, plus 0.81 percent.

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Ferrovial stock (ISIN NL0015001FS8) was trading at EUR 46.07 at Lang & Schwarz on October 7, 2026 at 10:35 a.m. CEST, up 0.81 percent versus the prior close of EUR 45.70. The immediate catalyst is a sharp reassessment of the I-24 concession risk by J.P. Morgan.

J.P. Morgan cuts its target

As Yahoo Finance reported on October 6, 2026, J.P. Morgan downgraded Ferrovial from Overweight to Neutral and cut its price target from EUR 65.00 to EUR 50.00. The new target lies 8.53 percent above the Lang & Schwarz price.

The bank linked its caution to the Tennessee I-24 project, where Ferrovial owns 65.00 percent of the consortium. The project carries a USD 9.20 billion fixed-price construction contract over eight years, while the concession value is USD 24.80 billion.

Revenue grows as profit falls

Ferrovial's first-half 2026 operating picture is mixed. Simply Wall St reported revenue of EUR 4.70 billion for the first half of 2026, up 5.20 percent from the first half of 2025. Net income fell 52.00 percent to EUR 251.00 million, and earnings per share declined to EUR 0.35 from EUR 0.73.

That combination explains the market tension around the stock: the business is still expanding at the revenue level, but weaker profitability leaves less room for construction-cost surprises. J.P. Morgan estimates the I-24 project's internal rate of return at 11.00 percent under its base case, with the outcome sensitive to traffic, pricing and financing assumptions.

Results date gives the next marker

Ferrovial's investor-relations calendar lists the nine-month 2026 results release for October 27, 2026, after the U.S. market close, followed by the conference call and webcast on October 28, 2026, according to Ferrovial. Those figures should show whether traffic and toll-road performance can offset the pressure from large fixed-price construction commitments.

Stock remains below its yearly high

Ferrovial's primary BME listing had a 52-week range of EUR 44.93 to EUR 63.54 on October 7, 2026, placing the Lang & Schwarz price 27.49 percent below the upper end of that range. The company had a market capitalization of EUR 33.1 billion, while its infrastructure portfolio spans toll roads, airports, construction and energy.

At Lang & Schwarz, Ferrovial stock was trading at EUR 46.07 on October 7, 2026 at 10:35 a.m. CEST, plus 0.81 percent versus the prior close of EUR 45.70. The further course of trading is shown by the continuously updated real-time quote of Ferrovial stock.