Ferrovial reinstated with a Buy at Jefferies

Jefferies reinstated coverage of Ferrovial with a Buy rating and $48.60 price target. Infrastructure is well placed in the current environment, with manageable inflation and interest rates beginning to fall, the analyst tells investors in a research note. The firm remains bullish on the sector, particularly in construction and the U.S. Ferrovial is Jefferies’ preferred way to play U.S. concessions.