Goldman Sachs calculates that AEDAS Homes could bring in €1bn in revenues in 2022

Goldman Sachs confirms its conviction in Spanish home builder AEDAS Homes and has reiterated its buy recommendation. The firm’s analysts predict that, thanks to solid pre-sales and a healthy number of construction starts, AEDAS Homes “can grow revenues from approximately €80mn last year, to over €1bn in 2022”, which is “well over a 100% annual growth rate”. The investment firm once again has named AEDAS Homes as its top pick of the three listed home builders in Spain and is keeping the company on its 'Pan Europe Conviction Buy List', with AEDAS Homes being the only one of its peers on this buy list. The investment bank focuses on the fact that the company led by David Martínez closed out 2018 with "positive" results and that all indicators point to the company remaining “on track”. Goldman Sachs has set a target of €36.70 for the developer’s share price, which means a revaluation potential of 70% over where it is currently trading. Economists at Goldman Sachs continue to remain positive on Spain’s macroeconomic outlook, expecting both GDP and wages to grow, while forecasting low inflation and a decline in unemployment.