Ferrovial NV

FER: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Ferrovial: The Market Has Convicted I-24 Before the Evidence Is In; Rates and Fuel Are Bigger Issues

Jack Fletcher-Price

Oct 8, 2026

DriveTN, in which Ferrovial owns a 65% stake, has reached commercial close with the Tennessee Department of Transportation on a 50-year concession to build and operate four managed lanes on Interstate 24 between Nashville and Murfreesboro.

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Ferrovial NV

Ferrovial: The Market Has Convicted I-24 Before the Evidence Is In; Rates and Fuel Are Bigger Issues

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