02:28 AM EDT, 05/18/2026 (MT Newswires) -- BofA Global Research raised its price objective and earnings forecasts for Hochtief (HOT.F), saying the German infrastructure group looks set to upgrade its guidance by its third-quarter results.

"Despite the strong [year-to-date] stock performance, we are positive as (1) Hochtief looks poised to raise its guidance at Q3'26 results at the latest, BofAe 2026E EPS is 5% above the high end of current guidance, (2) earnings revisions are still positive, (3) EPS momentum is sound (25% 2026-28E CAGR), (4) HOT's growth is underpinned by Turner, the No.1 non-res contractor in the US and No.1 builder of US data [centers],"analysts said in a May 15 note.

Against this backdrop, the research firm lifted its full-year 2026 through 2028 EPS projections by 5% to 9% and upgraded its revenue estimates for the same three-year period alongside its 2026 dividend per share forecast. BofA also raised its price objective to 605 euros from 460 euros, while maintaining its buy rating.

Analysts said Hochtief's second half is "looking comparatively busy,"with anticipated key catalysts including the capital markets day of parent company Actividades de Construcción y Servicios (ACS.MC), or ACS, on Nov. 12, and the possible exercise of Elliott's option on Thiess'minority stakes by December.