Citi raises target for Galp Energia stock from EUR 21.50 to EUR 22.50

Published on 10/20/2026 at 10:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q3 production reached 131 kboepd, up 14 percent year over year. Galp Energia stock costs EUR 22.84 on October 20, 2026 after EUR 22.36 in Lisbon.

Analyst target and operating update

Citi raised its Galp Energia target to EUR 22.50 on October 13, 2026.
Third-quarter production reached 131 kboepd, up 14 percent year over year.
Galp Energia stock traded at EUR 22.84 at 10:00 a.m. CEST at Lang & Schwarz on October 20, 2026.

Aquarellmalerei der Lissabonner Skyline mit Tejo-Fluss und Hängebrücke im Hintergrund — Galp Energia SGPS SA (PTGAL0AM0009) hat ihren Hauptsitz in Lissabon, dargestellt in Aquarelloptik, Illustration mit AI erstellt.

Galp Energia (PTGAL0AM0009) is covered by a higher Citi target of EUR 22.50, up from EUR 21.50, after the analyst note dated October 13, 2026. Markets Insider reported that Citi analyst Kate O'Sullivan kept a Neutral rating. Galp's third-quarter operating update provides the next test for that valuation.

What Citi's target implies

The EUR 22.50 target sits below the EUR 22.84 Lang & Schwarz price cited below, leaving the analyst view close to the latest German-market indication. The more important operating signal is Galp's refining margin, which rose to USD 33.80 per barrel of oil equivalent in the third quarter of 2026 from USD 9.50 a year earlier and USD 16.80 in the second quarter. Galp Energia described the figures as provisional.

Three dated operating events

On September 3, 2026, Galp and TotalEnergies completed their strategic partnership in Namibia. On October 7, 2026, Galp was awarded the Rodocrosita block in Brazil's Santos Basin. On October 12, 2026, the company published its third-quarter trading update, reporting working-interest production of 131 kboepd, up 14 percent from the third quarter of 2025. These dates and events appear on Galp's investor-relations page, which also identifies the planned results release.

What comes next for results?

Galp is scheduled to publish its third-quarter 2026 financial results on October 26, 2026, before the opening of Euronext Lisbon, followed by an analyst conference call at 11:00 a.m. Lisbon time. RTTNews highlighted additional third-quarter figures, including natural gas and liquefied natural gas supply and trading volumes of 21.4 TWh, up 26 percent year over year. That combination makes the October 26 results the next concrete valuation checkpoint.

Stock price and listing

Galp Energia stock was trading at EUR 22.84 at Lang & Schwarz on October 20, 2026 at 10:00 a.m. CEST. On its home market, the company is listed on Euronext Lisbon and reports under the symbol GALP.LS.

The further course of trading is shown by the continuously updated real-time quote of Galp Energia stock.