The IBEX 35 has accumulated a rise of more than 30% so far this year, a spectacular performance that can make it difficult to find good opportunities to enter the market. But XTB analysts propose three possible ideas: Inditex, Aena and Solaria.
Inditex “has once again changed the market narrative,” consider XTB analysts. “While the company continues to face a challenging context, the latest results have caused a change of vision in investors«This is due to the stability of the margins, which contrasts with other companies in the sector. Experts predict a growth of 7% in the second half of the year, while the full year will be 5%. In addition, they establish the target price of Inditex shares in the 54,7 euroswhich represents a potential of more than 20% from current prices
«The Spanish tourism sector has raised some doubts, and although it is true that the economic situation in France and Germany could have an impact on visits to our country, we do not contemplate this occurring in 2025.» For this reason, XTB believes that the falls experienced by Aena in recent weeks are simply “a overreaction to recent eventsThe company has seen a 4.3% increase in passengers across its airport network through August while continuing to see an expansion in its margins, analysts believe.
Finally, “Solaria will continue to be a protagonist in the Ibex 35.” The company still has more than 14% shorts on its floating capital and «it would take more than a week to close all of these positions.» This is producing high volatility in the value, XTB acknowledges, but expectations of high electricity prices are causing buying pressure to be greater, which will continue to cause the «massive short closing«.
How will the Ibex 35 end the year?
The IBEX 35 faces a final quarter “in which the potential is already reduced,” say XTB analysts. The main index of the Spanish stock market has accumulated a revaluation of almost 35% and is even close to its 2007 highs. However, The banking sector, which has been the great engine of progress, is trading “at very demanding multiples”with a PER 43% above its average for the last 3 years and even 8% above two standard deviations from its average. “This means that its potential is now zero and we can even see corrections,” experts believe.
But that does not mean that there are not good opportunities in the market. “There are other values that have begun a change of narrative that could be confirmed with the results of the third quarter of the year,” such as Inditex. Likewise, «energy companies continue to benefit from high energy prices and we see possible rebounds in values like Aena, which will compensate for the weakness of the banks.»
XTB sets a target price for the Ibex 35 of 15,317 pointswhich would leave “reduced potential for the last quarter.”