The market shakes Acciona shares after slowing down its divestment plans

The market strongly shakes the shares of the infrastructure and energy group Acciona after revealing its business trends report that updates its evolution at the end of September. After the first bars of the session, the titles of Action around 6% until landing at 186.10 euros per share and those of Activate Energy They are diluted by 7% to 22.32 euros.

Investors respond in this way to the message of slowdown in the energy asset rotation strategy launched last night by the group chaired by José Manuel Entrecanales, before assessing that it is finalizing divestments close to 1,000 million euros and highlighting that the sales objectives will be achieved with a certain time lag with respect to the initially planned calendar.

In this report, Acciona reaffirmed its forecasts for the year, with special prominence for its subsidiary Nordex and a positive evolution in the infrastructure business, which compensate for its lower energy production. In this scenario, the quoted maintains its ebitda forecasts (gross operating result) in the range of 2,700 to 3,000 million, with a greater contribution from its German subsidiary compared to what was initially planned and a lower contribution from energy.

Furthermore, in the energy business, the report includes a drop in energy production forecasts for this year, now estimating that it will be around 25,000 gigawatt hours (GWh), compared to the 26,000 expected, due to a “slower and more complex” commissioning of new facilities, but which should have a temporary impact. In this scenario, its operational evolution and the closing of asset rotation operations in Spain, Peru and Costa Rica before the end of the year lead it to reiterate the annual Ebitda target in a range of 1,500 and 1,750 million.

From Rent4analyst Eduardo Imedio, despite having considered the companies’ report as neutral-positive, has lowered the recommendation on Acciona from overweight to hold, due to the recent strong revaluation of the stock, having exceeded the target price of 182 euros. Renta4 has chosen to adopt a “more prudent” short-term stance on Acciona.

In the case of Acciona Energía, Imedio has reiterated the overweight recommendation, with a target price for the share at 28.2 euros. From Bankinterthe analyst Aránzazu Bueno, has considered that Acciona Energía will have a weaker performance than initially estimated in 2025; but he stressed that the good news comes from the turbine subsidiary, Nordex, and the infrastructure division. Bueno explained the negative reaction of the market due to the update of business trends, especially for Acciona Energía, which is where the downward revision of the operating guides for the year occurs. Bankinter places the target price of the share under review.