Insight Investment Research LLP

Insight Investment Research is a top ranked sell side boutique dedicated to Global Infrastructure equity research. We leverage extensive equity research experience, industry knowledge and strong corporate relationships to produce differentiated independent research and provide new insights on infrastructure stocks (toll roads, airports, telecom towers) and the industry to global institutional investors.

We provide clients with timely, concise and in depth reports based on detailed company and industry models. Coverage includes twenty five stocks across the Infrastructure sector across Europe, South America and Asia Pacific. We are expanding our integrated global coverage in a sector almost exclusively covered by regional analysts.

Why Insight?

Members research

Flagship reports
  • Ferrovial: Limited impact of Covid-19 on lifetime FCF of toll roads in N. America
    11 May 2021

    The NTE-35W has exceeded our expectations throughout the global pandemic, with a 50% increase in EBITDA in 2020. We consider it the most attractive of Ferrovial’s Managed Lanes due to high truck traffic and Alliance Texas with a multi-modal logistics hub, part focused on e-commerce.
  • Aena: Value accretive long-term capacity and traffic growth to resume in 2023-50E
    26 Jan 2021

    Although extremely severe, we expect Covid-19 to have a limited 7% reduction of Aena’s lifetime discounted FCF. We expect 2019 traffic recovered with 278m pax in 2024E. We forecast strong FCF generation driven by traffic growth to attractive destinations benefiting from higher propensity for air travel as economic wealth improves, combined with efficiency, attractive regulation and unlimited duration.
  • Eiffage: Raising Energy Systems valuation, TP up to €143
    08 Dec 2020

    Energies is Eiffage’s most attractive Contracting activity, its profits have consistently grown since 2010, with organic growth accelerating in 2017-19, driven by increasing electrical content and automation. We see continued value creation but limited by fair value for Energies Systems at c.9.5x EV/EBIT and Contracting detracting from market value of Concessions.
Latest reports

Why Insight? 

We understand our clients needs, produce research product to achieve them, do what we say we will do, have fun and play to win. 

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Our approach

A niche non traditional sector requires a specialist solution. We concentrate on thoughtful, thorough, insightful analysis not maintenance research and challenge market views. 

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