Spanish utility company Endesa (ES:ELE) and airline group International Consolidated Airlines Group (ES:IAG) are part of Spain’s IBEX 35 index. IAG has a Moderate Buy rating with around 35% of upside potential, Endesa, on the other hand, carries a Hold rating with 8.3% expected growth in its share price.
The price targets forecasted by analysts for any particular stock are considered to be one of the most important measures while evaluating an investment. The price can help investors with the risk/reward analysis of the stock to make an informed decision.
Using ratings and price targets, TipRanks offers analyst forecasts on stocks in seven different markets.
Let’s have a look at the details for two Spanish stocks.
What is the Price Target for IAG Shares?
IAG as a group company combines leading airlines of Ireland, Spain, and the UK with a total fleet of more than 550 aircraft.
According to TipRanks consensus, IAG stock has a Moderate Buy rating, based on a total of 11 recommendations. The stock’s average price target of €2.15 suggests an upside of 34.8% on the current price level.
Recently, Citigroup analyst Sathish Sivakumar reiterated his Buy rating on the stock. His price target of €2.22 implies a 40% upside in the share price.
The stock has gained more than 40% in the last six months, driven by a solid recovery in air travel and profits in 2022. Analysts remain bullish about the company’s prospects with further recovery in profits in 2023.
Endesa Stock Price Target
Based in Spain, Endesa SA is a leading utility company serving around 10 million customers.
With a total of 4 recommendations, ELE stock has a Hold rating on TipRanks. This includes two Buy, one Hold, and one Sell ratings. The stock has an average price target of €21.13, which shows a growth of 8% on the current share price.
Analyst Robert Pulleyn from Morgan Stanley reconfirmed his Sell rating on the stock at a price target of €18.0. It shows a downside of almost 8% on the current price.
Analysts are slightly cautious about the company’s earnings after it reduced its forecast numbers for 2023 and 2024, impacted by the Spanish windfall tax.
