UBS confirms its Buy recommendation on the stock, with a target price of E140, following APRR's traffic and business figures.

UBS highlights APRR's strong traffic in the first half of 2023. Total traffic was up 3.0% year-on-year. Light-vehicle traffic rose by 3.5% over the half-year, while heavy-vehicle traffic was up by 1.0%.

APRR's consolidated sales excluding Construction amounted to 1,454.1 million euros in the 1st half of 2023, up 7.8% (1,348.3 million euros in the 1st half of 2022).

' Q2 traffic stronger than expected. We also expect solid results for the Group (August 30)' says UBS.

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