Bernstein keeps EUR 9.80 target for Enel stock

Published on 10/02/2026 at 14:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

EBITDA rose 3% to EUR 11.8 billion in the first half of 2026. Enel stock costs EUR 8.73 on October 2, 2026 after EUR 8.68, plus 0.58 percent.

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Bernstein Research kept its Market-Perform rating and EUR 9.80 target for Enel stock on September 25, 2026, according to FinanzNachrichten. Enel's investor-relations page identifies July 30, 2026 as the presentation date for its first-half results, according to Enel.

Bernstein target stays at EUR 9.80

The September 25 analyst note left the target unchanged at EUR 9.80 and maintained Market-Perform. Against the Lang & Schwarz price of EUR 8.73 on October 2, 2026, that target is 12.26 percent above the euro reference price.

The analyst view gives the stock a defined valuation marker rather than a fresh earnings surprise. The EUR 9.80 target is also the average level cited for three Bernstein assessments in September, while the reported rating remained neutral.

First-half earnings rose 3 percent

Enel's first-half 2026 EBITDA increased 3 percent year over year to EUR 11.8 billion, while net income rose 3 percent to EUR 3.9 billion, according to the Yahoo Finance transcript dated July 30, 2026.

The same transcript put earnings per share at EUR 0.40 after a 5 percent increase and said full-year earnings per share were expected at the top end of guidance. Enel also reported EUR 6.6 billion returned through dividends and share buybacks during the first half of 2026.

Networks support the investment case

Enel's first-half presentation highlighted a EUR 4.4 billion year-over-year increase in regulated asset base and EUR 3.5 billion of capital expenditure in the six-month period. The group said 3 gigawatts of new capacity were in execution and that its net debt-to-EBITDA ratio stood at 2.6 times.

For investors, the combination of 3 percent EBITDA growth and a 12.26 percent gap to Bernstein's target puts operating execution and regulated-network expansion at the center of the valuation discussion. The counterweight is the group's exposure to regulation, power prices and financing costs across its international portfolio.

Enel price remains below target

Enel was trading at EUR 8.73 at Lang & Schwarz on October 2, 2026 at 2:02 p.m. CEST, plus 0.58 percent versus the prior close of EUR 8.68 at Lang & Schwarz on October 1, 2026. The finance-data snapshot puts market capitalization at EUR 86.6 billion and the 52-week range at EUR 8.11 to EUR 10.31, both as of October 2, 2026. The further course of trading is shown by the continuously updated real-time quote of Enel stock.