Repsol stock gains 1.76 percent as Berenberg raises target

Published on 09/29/2026 at 08:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Repsol stock carries a EUR 37.50 Berenberg target after the house raised it from EUR 31.00 on September 15, 2026. Q2 adjusted net income reached EUR 1.84 billion.

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Repsol stock (ISIN ES0173516115) was last at EUR 31.29 on BME on September 28, 2026 at 5:40 p.m. CEST, up 1.76 percent from the previous close. The share price stood 1.11 percent below its 52-week high of EUR 31.64, giving investors a clear measure of how far the recent advance has extended.

Berenberg lifts the valuation

The main valuation signal came on September 15, 2026, when Berenberg raised its Repsol price target from EUR 31.00 to EUR 37.50, according to Expansion. The new target is EUR 6.21 above the September 28 reference price, a difference of 19.85 percent.

The report linked the higher valuation to refining margins and a larger share-buyback assumption for 2026. Berenberg raised its expected 2026 buyback amount from EUR 1.25 billion to EUR 1.80 billion, according to Expansion.

Second-quarter figures strengthen the case

Repsol's second-quarter 2026 adjusted net income reached EUR 1.84 billion, while adjusted EBITDA stood at EUR 3.52 billion, according to VZ VermögensZentrum. Those figures put refining and broader downstream operations at the center of the current earnings picture.

The latest market data show a EUR 13.96 52-week low against the EUR 31.64 high. The range highlights a 125.07 percent spread between the two extremes, while the current price sits near the upper boundary rather than the middle of the annual range.

October results set the next checkpoint

Repsol's next reporting date is October 29, 2026, with third-quarter results listed by TradingView. For investors, that release will test whether the second-quarter adjusted earnings strength and the refining-margin thesis can support the elevated share price.