Veinte valores fuertes que suben a contracorriente en octubre

In October, 20 companies in the Ibex have defied the overall decline of 3.98% for the Ibex, with 12 of them achieving gains between 5% and 15.5%. Some of these strong performers still have room for growth, as experts view them as having upside potential. October has a reputation for being a poor month for investing, but historically, it is the second-best month for returns in the Spanish market, with an average increase of 1.86% since the Ibex was created in 1992.

Only November has a higher average return at 2.31%. However, this time, the fears associated with October have materialized, as most European indices closed lower. The Ibex fell by 3.98%, with banks leading the drop (down 15.05% on average, their worst month since November 2021) due to rising public debt yields, concerns over deteriorating public accounts in EU countries, particularly France, and doubts about the sector's ability to maintain profit growth.

The FTSE Mib in Italy also declined by 3.64%, adding to the bearish sentiment. Despite the downward trend, 20 companies among the Ibex have managed to avoid the downward spiral. A dozen of these companies have gained between 5% and 15.5%, and experts believe there is still room for further upside. Among the top-performing companies is Cellnex, a major player in wireless telecommunications infrastructure.

The stock surged 15.48% in October, buoyed by the confidence of investors and a commitment to buy back shares, covering 80% of its initial plan. Analysts highlight Cellnex's dual business model, involving towers and satellites, as a complementary and sustainable venture. The company's debt is low at 2.1% and its amortization period is around 4.3 years.

Grifols, a company that saw a 28.7% increase in earnings in the first half of 2026, is also performing well. Investors are watching its results closely, as the growth of its immunoglobulin business is considered sustainable. Santander, a financial institution, is trading at an 89% discount to its potential value, with Banco de América, Goldman Sachs, UBS, and Bankinter recommending investment.

Meanwhile, Amadeus, a technology company in the travel sector, has gained more than 9% in October. Despite previous setbacks due to uncertainties surrounding air traffic and the potential impact of AI on its business, experts believe Amadeus has a strong position in the market and offers a compelling investment opportunity with a potential upside of over 21% to 68.98 euros.