Equita cuts target to EUR 10.00 for Italgas stock

Published on 10/15/2026 at 11:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Italgas agreed to buy 22.5 percent of Floene for EUR 120 million on October 2, 2026. Italgas stock costs EUR 8.58 on October 15, 2026, below EUR 10.00.

Portugal deal and analyst view

Italgas agreed to acquire 22.5 percent of Floene for EUR 120 million on October 2, 2026.
Equita cut its target from EUR 10.80 to EUR 10.00 on October 7, 2026.
Italgas stock trades at EUR 8.58 at 11:33 a.m. CEST at Lang & Schwarz on October 15, 2026.
Italgas lists October 29, 2026, for its third-quarter results presentation.

Isometrische 3D-Illustration der Gasverteilung von Quelle bis zum Haushalt — Isometrische 3D-Grafik der Gas-Wertschöpfungskette veranschaulicht das Geschäftsmodell von Italgas S.p.A. (IT0005211237) von Quelle bis Haushalt, Illustration mit AI erstellt.

Italgas (ISIN IT0005211237) faces a lower EUR 10.00 price target after Equita cut its target from EUR 10.80 on October 7, 2026, according to Corriere. At Lang & Schwarz, the stock was trading at EUR 8.58 on October 15, 2026, at 11:33 a.m. CEST.

Equita weighs regulatory risk

Equita kept its Hold recommendation while lowering the target to EUR 10.00. The broker cited uncertainty around the 2028 regulatory review and higher interest rates, according to Corriere. The same report said Equita expected the WACC reset to reduce Italgas adjusted earnings per share for 2027 by 3 percent to 4 percent after inflation-linked regulatory asset growth.

What does the Portugal deal add?

Italgas signed a binding agreement on October 2, 2026, to acquire 100 percent of Meet Europe Natural Gas, which holds 22.5 percent of Portugal's Floene. The company's release put the equity value at EUR 120 million and said closing depended on regulatory approvals, according to Italgas. Reuters also reported the transaction on October 2, 2026.

Three dates define the story

On October 2, 2026, Italgas announced the EUR 120 million Floene agreement. On October 6, 2026, Italgas Reti began managing Turin's gas distribution service across 76 municipalities, with more than EUR 87 million in planned investment, according to the company's investor page. On October 7, 2026, Equita cut its target from EUR 10.80 to EUR 10.00 and retained Hold, according to Corriere.

Results date is October 29

Italgas lists October 29, 2026, for its presentation of third-quarter results on its investor page. The second quarter of 2026 produced EUR 207.40 million in net income, up 15.93 percent from EUR 178.90 million in the first quarter, according to TradingView.

Stock trades below the target

The target cut leaves the analyst valuation above the current euro quote, while the Floene agreement adds a Portugal expansion milestone to Italgas's 2026 strategy. The next results presentation will provide the next quantified test of earnings and integration progress. Italgas was trading at EUR 8.58 at Lang & Schwarz on October 15, 2026, at 11:33 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Italgas stock.