Digi shares rise 14% in first three months on Spain's stock market

Digi shares have climbed 14.1% in the three months since the telecoms company began trading in Spain, compared with a 0.26% rise for the Ibex index.

Digi debuted at €5.60 a share and had a market value of about €1.9 billion at the time of the story.

Analysts see 16.1% potential upside, based on a consensus price target of €7.42, though individual estimates vary.

Digi is Spain’s third-largest broadband provider and ranks fourth in mobile lines, while adding about 600,000 net customers a year.

One fund manager expects it could reach roughly 20% market share by 2030, while analysts point to its low-cost fibre rollout and potential gains from sector consolidation.

Owning more network assets could lift margins, but would require substantial investment and could weigh on cash generation.

Analysts say Digi may benefit if Spain’s telecoms market consolidates further, whether or not it takes part in deals.