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Talgo S.A. ( (ES:TLGO) ) has issued an announcement.
Talgo has secured a major boost to its order book after the Government of Saudi Arabia awarded a contract for the manufacture and maintenance of 20 new high-speed trains for the Haramain High-Speed Railway, adding €1.332 billion and lifting its total backlog to a record around €6 billion. The trains, to be built through the Saudi Spanish Train Project Company and based on the 35 units already operating since 2018, come alongside an extension of the Phase II operation and maintenance period that could run to 2038, consolidating Talgo’s long-term role in Saudi rail and reinforcing its international growth strategy in a key Middle Eastern market.
The most recent analyst rating on (ES:TLGO) stock is a Hold with a EUR3.00 price target. To see the full list of analyst forecasts on Talgo S.A. stock, see the ES:TLGO Stock Forecast page.
More about Talgo S.A.
Talgo S.A. is a Spanish railway technology company specializing in the design, manufacture, and maintenance of high-speed and intercity trains. The company focuses on international markets, with a notable presence in large rail infrastructure projects and a strategic emphasis on growth in regions such as the Middle East.
Average Trading Volume: 188,526
Technical Sentiment Signal: Sell
Current Market Cap: €372.8M
Learn more about TLGO stock on TipRanks’ Stock Analysis page.