ACS stock: JPMorgan starts coverage with EUR 127.00 target for ACS stock

Published on 10/21/2026 at 16:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ACS reported EUR 510.00 million profit for the first half of 2026. ACS stock costs EUR 91.18 on October 21, 2026 at 4:03 p.m. CEST.

JPMorgan and ACS figures

JPMorgan began ACS coverage with a EUR 127.00 target on October 15, 2026.
Operational net profit reached EUR 510.00 million in the first half of 2026, up 30.00 percent year over year.
ACS stock costs EUR 91.18 at Lang & Schwarz on October 21, 2026 at 4:03 p.m. CEST.
ACS is scheduled to report nine-month results on November 12, 2026.
ACS had a EUR 24.2 billion market capitalization and a 23.49 P/E ratio on October 21, 2026.

Fotorealistische Großbaustelle mit Kränen, Brückenbau und Infrastrukturprojekt bei Sonnenuntergang — Fotorealistische Großbaustelle zeigt ACS Actividades de Construcción y Servicios S.A. (ES0167050915) beim Infrastrukturbau, Illustration mit AI erstellt.

JPMorgan began coverage of ACS with an Overweight rating and a EUR 127.00 price target on October 15, 2026, according to Markets Insider. ACS stock was at EUR 91.18 at Lang & Schwarz on October 21, 2026 at 4:03 p.m. CEST.

Profit growth supports the case

ACS reported operational net profit of EUR 510.00 million for the first half of 2026, an increase of 30.00 percent from the prior-year period. Sales rose 12.00 percent to EUR 26.2 billion, while the backlog reached EUR 105.9 billion, up 21.00 percent on a comparable basis, according to Yahoo Finance.

The same first-half update put 2026 operational net profit guidance at growth of 30.00 percent to 35.00 percent, equivalent to EUR 1.10 billion to EUR 1.15 billion. Net operating cash flow reached EUR 2.3 billion over the last 12 months.

Stock stays below its yearly high

ACS traded within a 52-week range of EUR 69.50 to EUR 141.20 on October 21, 2026. Its EUR 91.18 Lang & Schwarz price was 35.42 percent below the yearly high and 31.19 percent above the yearly low.

The ACS quote on October 21, 2026 carried a trailing P/E ratio of 23.49 and a market capitalization of EUR 24.2 billion. The comparable figures for Veolia Environnement were a P/E ratio of 19.11 and a market capitalization of EUR 23.5 billion, while Eiffage stood at 8.84 and EUR 9.6 billion.

Results date sets the next marker

ACS is scheduled to publish its nine-month 2026 results and hold a Capital Markets Day on November 12, 2026, according to TradingView. That date gives investors a defined point for testing the profit guidance and the backlog conversion.

Analyst target remains above the quote

JPMorgan's EUR 127.00 target is 39.29 percent above the EUR 91.18 Lang & Schwarz price. The target is a new coverage view rather than a revision, so the comparison centers on the distance between the analyst valuation and the live euro quote.

ACS keeps a broad infrastructure profile

ACS operates through construction, concessions and infrastructure businesses, with data centers, energy, transport and defense among the growth areas highlighted in its first-half presentation. The next reporting date and the 2026 guidance range are the clearest scheduled checks on whether the current operating momentum is converting into earnings.

The further course of trading is shown by the continuously updated real-time quote of ACS stock.