Ferrovial moves to neutral at JPM on I-24 project overhang
JPMorgan downgrades Ferrovial to "neutral" from "overweight", citing insufficient reassurance on the Tennessee I-24 project win and a potential overhang on shares until financial close in Q2 2027.
* JPMorgan downgrades Spanish infrastructure operator Ferrovial to "neutral" from "overweight", saying details on its Tennessee I-24 project win lack sufficient reassurance * The brokerage notes the company bid nearly three times higher than competing consortia which raises concerns over bidding discipline and construction risks * "With financial closing not expected until Q2 2027 and the company bound by an NDA until then... com; +34 918 35 61 12)