Goldman names Merlin a top pick with EUR 17.70 target for Merlin Properties stock

Published on 10/16/2026 at 10:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman sets a EUR 17.70 target for Merlin in an October 15 note. Merlin Properties stock costs EUR 11.55 on October 16, 2026 versus a EUR 15.92 yearly high.

Analyst targets and operating growth

Goldman Sachs assigned Merlin Properties a EUR 17.70 target on October 15, 2026.
First-half 2026 revenue reached EUR 308.00 million and operating profit EUR 180.00 million.
Merlin Properties stock trades at EUR 11.55 at 10:38 a.m. CEST at Lang & Schwarz on October 16, 2026.
Market capitalization stood at EUR 7.1 billion on October 16, 2026.

Merlin Properties, ES0105025003, Illustration mit AI erstellt.

Merlin Properties (ISIN ES0105025003) was trading at EUR 11.55 at Lang & Schwarz on October 16, 2026 at 10:38 a.m. CEST. Investing.com reported on October 15, 2026 that Goldman Sachs rated the stock Buy with a EUR 17.70 price target and identified Merlin as a preferred data-center play.

Goldman highlights data centers

The analyst view puts Merlin's data-center expansion at the center of the current valuation debate. Goldman cited demand in Iberia and the company's development pipeline, including potential investment acceleration in Portugal, in its October 15, 2026 selection of European real estate stocks.

That target is EUR 6.15 above the Lang & Schwarz price, while the company's 52-week high is EUR 15.92 and its 52-week low is EUR 11.28. The range shows that the current quote sits EUR 0.27 above the low and EUR 4.37 below the high.

What supports the target?

EjePrime reported that Merlin generated EUR 308.00 million of revenue in the first half of 2026, up 11.70 percent from the first half of 2025. Operating profit reached EUR 180.00 million, an 8.00 percent increase, while net profit rose 12.90 percent to EUR 579.00 million.

The same report said Merlin raised its full-year funds-from-operations target to EUR 340.00 million. Net asset value reached EUR 9.913 billion, or EUR 15.99 per share, and data-center rental growth was a central part of the operating story.

Three dated stock developments

On September 16, 2026, EjePrime reported the appointment of Javier Echave as chief financial officer while citing EUR 180.00 million of first-half operating profit. On October 14, 2026, Markets Insider reported that Jefferies upgraded Merlin from Hold to Buy with an unchanged EUR 16.00 target. On October 15, 2026, Goldman Sachs assigned the EUR 17.70 target cited above.

Price and market value

Merlin's market capitalization was EUR 7.1 billion on October 16, 2026, and the stock's 52-week range was EUR 11.28 to EUR 15.92. The further course of trading is shown by the continuously updated real-time quote of Merlin Properties stock.