ACS stock falls 1.23 percent as Intermoney raises target

Published on 09/28/2026 at 10:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ACS stock's first-half attributable profit reached EUR 510 million, up 13.3 percent year over year on July 29. The November 12 event combines nine-month results with a Capital Markets Day.

Isometrische 3D-Illustration einer Bau-Wertschöpfungskette von Planung bis Infrastrukturbetrieb — Isometrische 3D-Grafik zeigt Wertschöpfungskette von ACS Actividades de Construcción y Servicios S.A. (ES0167050915), Illustration mit AI erstellt.

ACS stock (ISIN ES0167050915) was trading at EUR 92.45 on BME Madrid on September 28, 2026, down 1.23 percent during the session. The immediate investor reference is the group's first-half operating performance and a higher analyst valuation ahead of the November results date.

Profit growth meets a lower share price

In the half-year results published on July 29, ACS reported attributable net profit of EUR 510 million, an increase of 13.3 percent from the prior-year period, according to Benzinga. Ordinary profit, excluding extraordinary items, rose 30 percent, while the contract backlog reached EUR 105.856 billion, up 21 percent on a comparable basis.

ACS also lifted its 2026 ordinary-profit growth guidance to 30 percent to 35 percent. Turner, the US construction business, increased its EBITDA margin by 64 basis points to 4.0 percent in the first half, creating a measurable test for the next operating update.

Intermoney raises target to EUR 108

MarketScreener reported on September 16, 2026, that Intermoney Valores upgraded ACS to Buy and increased its price target from EUR 90 to EUR 108. The published consensus on that page lists an average target of EUR 131.73 from 17 analysts, against a reference close of EUR 92.85 on September 23.

The target revision shifts attention from the recent share-price weakness to execution. The key issue is whether Turner can convert data-center demand into higher margins while ACS preserves the profit guidance already issued for 2026.

November results set the next test

ACS will combine its nine-month results with a Capital Markets Day on November 12, 2026, according to Benzinga. The event is scheduled to provide a fresh view on digital infrastructure, data-center projects and the profitability of Turner.

For investors, the numbers now form a clear split screen: first-half profit rose 13.3 percent, ordinary profit rose 30 percent, yet the stock was down 1.23 percent in the September 28 session. That gap makes the November margin and backlog update the next concrete valuation checkpoint.