Merlin Properties, Sacyr, IAG (Iberia)

Jefferies lowered its recommendation on the Spanish REIT Merlin, citing increased risks in its data centre portfolio, and stopped recommending it as a buy for investors.

Three Spanish-listed companies (Merlin Properties, Sacyr, and IAG) are among the most recommended stocks on the Ibex index, with analyst buy recommendations near 90% and year-to-date price appreciation ranging from 13.7% to 22%.