UBS reiterates its buy recommendation on the share, with a price target unchanged at E134, following the announcement of higher APRR sales for 2022.

' Revenues beat expectations thanks to a favorable mix. The share still offers attractive upside potential' says UBS.

The group has announced consolidated APRR sales excluding Construction of €2,818.5 million for December 31, 2022, compared with €2,569.3 million for December 31, 2021, representing year-on-year growth of 9.7%.

Total traffic, measured in kilometers traveled, increased by 8.0% over the full year 2022, compared with the previous year.

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