It runs on the Atlantia Stock Exchange. The share rose by 4,52% to 11,79 euros per share after reaching an intraday high of 12,02 euros in the early afternoon. The group benefits from the overweight rating assigned by Morgan Stanley from the previous equal weight despite the reduction of the target price to 13,50 from 14,80.
The broker sees a potential 20% upside on the stock: the current regulatory risk priced by shares is excessive in light of the high dividend yield of 6,6%. The traffic data released yesterday also supports Atlantia. In the first nine months of the year, the company recorded a 0,9% year-on-year drop, against -1,2% in the first six months.
