Italgas started Turin service as Italgas stock costs EUR 8.55

Published on 10/16/2026 at 09:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Italgas commits EUR 87.0 million across 76 municipalities on October 5, 2026. Italgas stock costs EUR 8.55 on October 16, 2026 below EUR 11.30.

Acquisition, target revision and timing

Italgas agreed to acquire a 22.50 percent Floene stake for EUR 120.00 million on October 2, 2026.
Equita cut its Italgas target from EUR 10.80 to EUR 10.00 on October 7, 2026.
Italgas stock trades at EUR 8.55 at 9:30 a.m. CEST at Lang & Schwarz on October 16, 2026.
Italgas will present third-quarter results on October 29, 2026.

Aquarellmalerei der Mailänder Skyline bei Sonnenuntergang mit Dom und Fluss — Aquarellbild der Mailänder Skyline symbolisiert den Firmensitz von Italgas S.p.A. (IT0005211237) in Italiens Wirtschaftszentrum Mailand, Illustration mit AI erstellt.

Italgas (ISIN IT0005211237) started managing the Turin 5 natural gas distribution area on October 5, 2026, with more than EUR 87.0 million planned for network expansion and digitalization. The company had signed a binding agreement three days earlier to acquire a 22.50 percent stake in Portugal's Floene for EUR 120.0 million, according to Italgas.

Turin expands the regulated network

The Turin 5 service covers 76 municipalities and 58,000 customers. Italgas plans to replace traditional meters, extend the network and modernize facilities under the 12-year concession, while the investment program is expected to support 1,000 related-industry jobs, according to Italgas.

The Floene agreement adds Portugal to Italgas's international expansion path after its Greek operations. The target serves 1.1 million active users through a 14,000-kilometer network, and closing remains subject to regulatory approvals, according to Reuters.

What does the target cut mean?

Equita lowered its Italgas target from EUR 10.80 to EUR 10.00 on October 7, 2026, and kept a Hold recommendation. The broker cited higher interest rates, uncertainty around the 2028 regulatory review and a possible net impact of 3.00 percent to 4.00 percent on 2027 earnings per share after a potential 30 to 40 basis point reduction in allowed returns, according to Corriere della Sera.

Three dates frame the next steps

On September 11, 2026, Italgas joined GRDF and Cadent in an alliance on renewable gases and network innovation. On October 2, 2026, it announced the Floene agreement for a 22.50 percent stake and EUR 120.0 million. On October 5, 2026, Italgas Reti began the Turin 5 service with more than EUR 87.0 million of planned investment, according to Italgas.

Italgas is scheduled to present its third-quarter 2026 results on October 29, 2026. That date is listed on the company's investor-relations page, while the latest available half-year figures showed adjusted revenue of EUR 1.09 billion and adjusted EBITDA of EUR 1.072 billion for the first half of 2026.

Stock price and valuation context

At Lang & Schwarz, Italgas stock was trading at EUR 8.55 on October 16, 2026 at 9:30 a.m. CEST. The Milan listing was last at EUR 8.53 at 9:15 a.m. CEST on the same date. The 52-week range was EUR 8.05 to EUR 11.30, and market capitalization was EUR 8.7 billion as of October 16, 2026.

The current euro quote places the stock EUR 2.75 below its 52-week high, while Equita's revised EUR 10.00 target remains EUR 1.45 above the Lang & Schwarz price. The mix of network investment, regulated-return risk and international expansion gives the October 29 results a clear role in the next valuation debate. The further course of trading is shown by the continuously updated real-time quote of Italgas stock.