AKTOR Group receives ‘Buy’ rating from Ambrosia Capital amid investment growth

Ambrosia Capital has issued a ‘Buy’ recommendation for AKTOR Group, setting a target price of 15 euros per share, which suggests a potential upside of 64%. The firm views the group as evolving into an integrated infrastructure and energy platform in Southeast Europe, driven by concessions, renewables, and LNG.

AKTOR Group maintains a construction backlog of 4.5 billion euros. Ambrosia Capital projects an adjusted EBITDA of 444 million euros by 2028 and 725 million euros by 2031, exceeding management guidance due to the acquisitions of Helector and Thales. The group’s 3 billion euro investment program is being funded through a 650 million euro capital increase, a 300 million euro bond, and project-level financing.

In contrast to the positive analyst outlook, the investment fund Qube has increased its short position in AKTOR Group from 0.50% to 0.60% as of October 7. The company's stock recently saw a decline of 4.27%, trading at 8.98 euros.