The investment bank now estimates Fraport's 2026 capital expenditure at approximately EUR800 million, representing an 11% increase to its previous forecast, while also raising its 2027 capex assumptions by about 30%. With these higher capital expenditure estimates weighing on forecasted free cash flow yields and Fraport's valuation now at the upper end of its peer group at 11x forward EV/EBITDA (current EV/EBITDA at 12.2x), compared to Aena at 10.8x and Aéroports de Paris at 9.1x, JPMorgan sees less justification to prefer Fraport over its European airport peers. InvestingPro analysis suggests the stock is currently overvalued, with a "GOOD" overall financial health score despite its significant debt burden. In other recent news, Fraport AG has seen several analyst upgrades and price target adjustments.