Berenberg keeps Buy rating for EDP Renovaveis stock

Published on 10/06/2026 at 12:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Recurring EBITDA rose 8.00 percent in the first half of 2026. EDP Renovaveis stock costs EUR 12.56 on October 6, 2026 after EUR 12.37.

Bauhaus-Grafik mit Turbinenformen, Sonnenkreis und großem Schriftzug ENERGY — Geometrisches Bauhaus-Poster mit Windturbinen-Motiven und Text ENERGY, gestaltet für EDP Renováveis S.A., ISIN ES0127797019, Illustration mit AI erstellt.

EDP Renovaveis stock was trading at EUR 12.56 at Lang & Schwarz on October 6, 2026 at 12:08 p.m. CEST, plus 1.54 percent versus the prior close of EUR 12.37. In a September 11, 2026 report, Finimize said Berenberg kept its Buy rating and EUR 15.00 price target for EDP Renovaveis.

Berenberg keeps EUR 15.00 target

Berenberg's target is 19.43 percent above the Lang & Schwarz price, calculated from EUR 15.00 against EUR 12.56. The bank's stance combines a positive view of long-term renewable power demand with a warning that funding costs and currency movements can weigh on earnings per share, according to Finimize.

The target matters because it points to an operating and valuation gap rather than a fresh corporate transaction. Berenberg lifted its EBITDA and operating-profit estimates through 2028 while cutting its earnings-per-share estimates for 2026 through 2028, the report said.

First-half EBITDA reaches EUR 1.033 billion

EDP Renovaveis delivered recurring EBITDA of EUR 1.033 billion in the first half of 2026, up 8.00 percent year over year, while recurring net profit increased 33.00 percent to EUR 183.00 million, according to TS2.

Management raised recurring EBITDA guidance for 2026 to EUR 2.20 billion to EUR 2.30 billion. The same first-half update showed a 4.00 percent increase in generation, while electricity sales fell 2.00 percent, making asset rotation and financing execution important counterweights to capacity growth.

Stock sits below its yearly high

The EUR 12.56 Lang & Schwarz price was 14.39 percent below the EUR 14.67 52-week high and 13.15 percent above the EUR 11.10 low on October 6, 2026. Finance data placed EDP Renovaveis market capitalization at EUR 13.3 billion on the same date.

That range leaves the shares closer to the middle of the year's band than to its upper boundary. The operating figures provide support for Berenberg's longer-term view, but the lower earnings-per-share estimates show why the EUR 15.00 target still depends on capital costs, foreign-exchange effects and delivery of the company's asset-rotation plans.

EDPR trades on Euronext Lisbon

Euronext identifies EDP Renovables as ticker EDPR on Euronext Lisbon under ISIN ES0127797019, in the Alternative Electricity industry. The listing gives German investors a Lisbon reference alongside the euro quote from Lang & Schwarz.

EDP Renovaveis was trading at EUR 12.56 at Lang & Schwarz on October 6, 2026 at 12:08 p.m. CEST, plus 1.54 percent versus the October 5, 2026 prior close of EUR 12.37. The further course of trading is shown by the continuously updated real-time quote of EDP Renovaveis stock.