€1.6 Billion Boost to GEK TERNA Market Capitalization Driven by Santander Reports

GEK TERNA (ΓΕΚ ΤΕΡΝΑ) shares are recording all-time highs on the stock exchange board, breaking the psychological barrier of €40 for the first time. This impressive trajectory translates to returns exceeding 60% for 2026, offering significant satisfaction to the listed company's shareholders. Despite the group's dominant position in the Construction and Concessions sectors, a decisive role in showcasing its prospects to the international investment community was played by an analyst from the Spanish bank Santander.

The Role of Jose Manuel Arroyas

The individual behind the "awakening" of international interest in GEK TERNA is Jose Manuel Arroyas, an analyst at Santander. With over 18 years of experience in equity markets and tenure at various institutional bodies in Madrid and London, Arroyas specializes in listed companies within the infrastructure, transport, energy, and logistics sectors.

His coverage portfolio includes giants such as Paris Airport, Fraport, Vinci, and Aena. The Spanish analyst, who rejoined Santander in the summer of 2019 (having previously worked at the bank during 2010-2014 and following a tenure at Morgan Stanley), began monitoring the Greek listed company closely at the start of the year.

Double "Strike" and Stock Surge

Arroyas's first significant intervention occurred last January. At that time, he initiated coverage of GEK TERNA's stock with a target price of €49, during a period when the title was trading at just €25. His analysis highlighted the comparative advantages, effective management, and the underlying "hidden value" of the group. The market's reaction was immediate, with foreign investors positioning themselves dynamically and the stock quickly climbing to €36.

Recently, the analyst proceeded with a new, upward revision of the target price, now setting it at €53. This new report acted as the catalyst for the share price to exceed the €40 level, defying the general international uncertainty caused by military conflicts.

Creation of €1.6 Billion in Value

The impact of these two successive reports has been spectacular for GEK TERNA's market capitalization. The cumulative rally of over 60% following Santander's analyses created additional value of €1.6 billion ($1.74 billion) for the listed company's shareholders.

Jose Manuel Arroyas's influence is no surprise to market insiders, as he has been named the top analyst for the Iberian Peninsula by Institutional Investor magazine for two consecutive years (2022-2023). Through his deep knowledge of the infrastructure sector, he managed to reveal the true potential of a major Greek business group to the international investment community.