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Regulatory press release

Analysts unanimously give AEDAS Homes a Buy rating and see a potential upside of 81.1%

Equity research analysts from seven brokerage firms that cover AEDAS Homes have released statements on the potential value of the company's share price following the publication of its third quarter results, with all seven (Goldman Sachs, Citi, Alantra, Sabadell, Santander, Caixabank and UBS) publishing a recommendation to buy shares in the Spanish homebuilder. In particular, UBS has upgraded AEDAS Homes to Buy from Neutral because the developer "has shown evidence that the business plan is fully on track with its original targets and in line with our estimates".

The average target share price published by the seven firms is €37.50. This implies a potential growth of 81.1 % in the share price, taking into account that the stock closed at 20.70 euros yesterday.

The group of analysts agree that AEDAS Homes has shown steady progress in terms of pre-sales and securing construction permits, as well as the fact that the company has also confirmed its delivery forecasts for the next few years. Sabadell reports that "pre-sales remain solid" (standing at 92% for target deliveries in 2018, 74% for 2019 and 34% for 2020), while Goldman Sachs considers "AEDAS Homes to be on track to meet or exceed management guidance for deliveries for the full year", believing that "this will be taken positively by the market". Along the same lines, Banco Santander has reiterated its buy rating for AEDAS Homes as it sees "several of [its] higher expectations materializing."

The developer has reiterated its delivery guidance as it continues to have excellent visibility on achieving targets set out in its business plan.

Press Release

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This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AEDAS Homes S.A.U. via Globenewswire

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