Upward revisions for Gek Terna’s stock continue on the back of a recent successful private placement of six million shares to international investors, as well as the construction, energy and concession group’s highest bid in an international tender to build and commercially exploit the new northern Crete tollway.
Gek Terna’s share ended above 14 euros in Monday’s trading at the Athens Stock Exchange (ATHEX), with turnover on the day exceeding 3.3 million euros.
In its recent report, Piraeus Bank’s brokerage subsidiary, Piraeus Securities, includes Gek Terna’s share in its “top picks” for 2024, raising the target price to 22.30 euros per share, and without taking into consideration the concession for the Attiko Odos tollway. Gek Terna was the highest bidder for the greater Athens area’s closed ring road, with the tender process completed in its favor.
Piraeus Securities also estimates that Gek Terna’s share offers the biggest upside (60%) of all its proposals for the Greek market.
According to Piraeus Securities, Gek Terna is an attractive way to invest in Greece’s now positive macroeconomic environment, with the group’s long-term infrastructure and concessions strategy creating a robust portfolio of projects, which are expected to generate more than six billion euros in dividends over the lifespan of the projects – excluding Attiki Odos and the northern Crete tollway.
Progress in the new airport construction at the Kasteli site, on Crete, and Gek Terna’s Integrated Resort Casino initiative at the Elliniko property development in southern coastal Athens also boosts its share prospects.
Source: tovima.com
Latest News
Insights into Greece’s Real Estate Landscape; Consumer Expectations and Challenges
The study indicates that while 66% of Greeks find recent real estate price hikes concerning and liken them to a "bubble," over half (56%) still anticipate further increases.
Athens in Top 10 Best Value City Breaks
Every year, Post Office Travel Money compares the costs of short breaks in cities across Europe for UK holidaymakers
Athens Int’l Airport: Americans Lead Total Passenger Traffic in Q1
According to the data processed by AIA, the top 10 in foreign arrivals are dominated by Americans, followed by the British and Germans. Other top nationalities include Cypriots, Italians, French, Dutch, Israelis, Poles, and Turks.
Greek PM Mitsotakis and Turkish President Erdogan Meet in Ankara Today
No major developments are expected, as the key aim of the meetings between the two leaders is to maintain positive diplomatic relations, but Greece is always vigilant for any surprises from the Turkish leader.
New Athens Metro Line Hopes to Alleviate Heavy City Traffic
The massive project is expected to be completed in 2029
National Intelligence Agency DG to Accompany Greek PM to Ankara
Prime Minister Mitsotakis also gave an interview to Turkish newspaper Milliyet regarding his upcoming visit
Draft Bill Eyes Detection of Uninsured, Poorly-Maintained Vehicles in Greece
According to reports, at least half a million vehicles in Greece are uninsured, while the number of those without inspections is unknown
AIA: Passenger Traffic Up by 16.3% in April
Passenger traffic at the Athens International Airport (AIA) amounted to 2.49 million during April 2024
Fitch Solutions: Greece Set to Welcome 40 Million Tourists Annually by 2028
However, Fitch Solutions highlights concerns about overtourism, cautioning that it could strain Greece's capacity to deliver quality services, potentially leading to neglect of popular destinations
ELSTAT: Q1 Exports Down 11% – Trade Deficit Up 8.7%
Amid international uncertainty and armed conflicts in Gaza and Ukraine in 2023, Greek exports continued to decline, ending the year with an 8.5% drop