The La Liga Ibex tool from elEconomista.es has gone digital with historical records and sector comparators. Merlin Properties, Sacyr and IAG occupy the top three positions in the consensus analysts' recommendations ranking.
The La Liga Ibex platform has made a leap into the digital realm, allowing investors to consult in real-time the ranking of the 35 companies in the Spanish selective index according to the consensus analysts' recommendations. Merlin Properties, Sacyr and IAG are, in that order, the highest-rated companies in this new edition of the ranking, which incorporates individual historical records since 2016 and a sector comparator.
The revamped tool offers, for each listed company, its historical positions since 2016 —or since its incorporation into the index— the best and worst positions achieved, the exact week, and the historical average recommendation. At a glance, users can identify which company is the market favourite at any given moment and how expert opinions have evolved over time.
The recommendations podium: Merlin, Sacyr and IAG
Merlin Properties has held the top position since April 2025, its best historical position. The socimi has benefited from the rise of artificial intelligence and the appeal of its data centres in the Iberian Peninsula. According to analysts at UBS, "the Iberian Peninsula has gained prominence due to its good international connectivity through submarine cables, an attractive profile for renewable energy generation, and greater land availability." Despite rising construction costs, the profitability of the data centre business remains very attractive to the consensus.
In second place is Sacyr, a position it has historically dominated. Experts from Renta 4 highlight "the contribution of new concessions won and those coming into operation," a factor that, in their view, will allow for a solid growth path in the income statement. The construction company has not fallen below fourth place since its return to the Ibex in 2022.
Completing the podium is IAG, the Hispano-British airline group, which maintains third place despite the pressure that the closure of the Strait of Hormuz —and the consequent increase in fuel prices— has exerted on the sector's margins. The resilience of the stock in the ranking evidences market confidence in the holding's ability to navigate the geopolitical conflict.
The platform allows users to see at a glance the evolution of market sentiment towards each stock, a window that rarely aligns with market capitalisation.
Sectors under analysts' scrutiny
The banking sector, which represents approximately 30% of the total capitalisation of the Ibex, does not usually shine at the top of recommendations. Only Banco Santander managed to break into the top 3, a feat it achieved in 2019 and has not repeated. It currently occupies fifth place and is the highest-rated entity within Spanish banking. Banco Sabadell stands out for its dividend yield, while Unicaja remains in 34th position, the lowest in the sector.
In the energy sector, Repsol has seen a rise of four places in the last month —to fifteenth— driven by the escalating situation in the Middle East and the recovery of oil prices. This is its best recommendation since December 2024. Naturgy occupies 17th place and Endesa falls to 33rd, the worst positioned among the major energy companies.
Unquestionable leadership in infrastructure is held by Sacyr, which has averaged second place since its return to the index. At the opposite end is Acciona, anchored in last place in the ranking since late 2025 for the first time in the history of the indicator. The weakness of Acciona Energía, its renewable subsidiary, weighed down by falling electricity prices, explains the consensus punishment.
Recent movements and trends
In the most recent weekly review, Indra has advanced to sixth place —one step away from the top 5— driven by an improvement in its monthly recommendation. Not even in 2025, a year when the stock surged 184% amid European rearmament, did it achieve such a high valuation within the Ibex as a whole. In contrast, Logista has fallen to 31st place, its worst historical position, although it still offers a dividend yield of 6.2% and a contained P/E ratio of 14.8 times.
The digital tool from elEconomista.es not only democratizes access to the history of recommendations but also highlights a relevant nuance: analysts' confidence does not always reward the largest capitalised companies. Merlin, Sacyr and IAG demonstrate that size is not everything when it comes to earning market trust.
For investors, the platform serves as a practical compass: it allows them to track the evolution of market sentiment towards each stock and compare sectors with a single click. With the new digital layer, any user can access data that previously required subscriptions to financial terminals. La Liga Ibex thus consolidates itself as a reference for those seeking guidance in the Spanish stock market.
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