Deutsche Bank cuts Ferrovial to 'hold' on rising bond yields

** Deutsche Bank downgrades Spain's infrastructure operator Ferrovial FER.MC to "hold" from "buy," noting the firm is "yielding to higher yields" as bond rates rise

** It notes that while near-term yield fluctuations may stem from volatile oil prices, longer durations reflect underlying fiscal pressures that will take time to ease

** The broker also lowers its target price by 17% to €48.5

** "Ferrovial remains a cash-generative infrastructure operator with strong pricing power, but valuations are sensitive to yields," it adds

** Out of 22 analysts that cover Ferrovial, even rate the stock "strong buy" or "buy,"​ 13 "hold" and two​ rate the stock "strong sell" or "sell" - LSEG data