Engie S.A., FR0010208488

Morgan Stanley cuts target for ENGIE stock to EUR 29

Published on 10/07/2026 at 10:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ENGIE raised 2026 guidance to EUR 4.9-5.5 billion. ENGIE stock costs EUR 23.04 on October 7, 2026, versus EUR 23.46, minus 1.79 percent.

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ENGIE stock (ISIN FR0010208488) was trading at EUR 23.04 at Lang & Schwarz on October 7, 2026 at 10:02 a.m. CEST, down 1.79 percent from the EUR 23.46 prior close. According to Investing.com on October 7, 2026, Morgan Stanley kept its Overweight rating but cut the price target from EUR 31.00 to EUR 29.00.

Morgan Stanley trims its target

The target reduction puts the new level EUR 5.96 above the Lang & Schwarz price, or 20.49 percent above it. Morgan Stanley analyst Arthur Sitbon nevertheless expects ENGIE's 2026 recurring net income in the top half of the company's guidance range.

The analyst also sees 2027-2029 estimates 6.00 percent above consensus, according to Investing.com. The counter-factor is political and commodity exposure, with the report citing possible power and gas taxes, lower commodity prices and delays to the Belgian nuclear transaction.

Guidance rises after strong first half

ENGIE's investor page identifies the first-half 2026 results as a period of strong operational execution, a first contribution from UK Power Networks and upgraded 2026 guidance, per ENGIE.

In the first half of 2026, EBIT excluding Nuclear reached EUR 5.30 billion, up from EUR 5.10 billion in the first half of 2025, while net recurring income was EUR 3.00 billion and cash flow from operations was EUR 6.90 billion, according to Yahoo Finance. Economic net debt reached EUR 60.00 billion after the UK Power Networks acquisition, leaving leverage at 4.20 times EBITDA.

Belgian deal date moves to November

ENGIE and Electrabel moved the target date for heads of terms on the potential transfer of Belgian nuclear activities to November 4, 2026, as reported by BFM Bourse on October 1, 2026. The proposed transaction covers seven reactors, related subsidiaries, personnel and decommissioning obligations.

Stock sits 22.91 percent below its high

At EUR 23.04, ENGIE was 22.91 percent below its EUR 29.89 52-week high and EUR 4.86 above its EUR 18.18 52-week low on October 7, 2026. The market capitalization was EUR 58.6 billion, while the next scheduled nine-month 2026 results are due on November 5, 2026, according to ENGIE's investor calendar.

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