Terna stock: Goldman Sachs keeps Sell rating at EUR 8.90

Published on 10/20/2026 at 17:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 12.00 percent to EUR 2.10 billion in first-half 2026. Terna stock costs EUR 9.38 on October 20, 2026, plus 0.69 percent versus Xetra close.

Goldman Sachs rating retained

Goldman Sachs maintained its Sell rating and EUR 8.90 target on October 13, 2026.
Terna reported first-half 2026 revenue of EUR 2.10 billion, up 12.00 percent year over year.
Terna stock costs EUR 9.38 at Lang & Schwarz on October 20, 2026 at 4:43 p.m. CEST, plus 0.69 percent versus the Xetra close of October 19, 2026.
Terna is scheduled to report its next earnings on November 12, 2026.

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Terna (ISIN IT0003242622) is trading against an EUR 8.90 Goldman Sachs target after the firm maintained its Sell rating on October 13, 2026, according to Investing.com. The target lies 5.12 percent below the EUR 9.38 Lang & Schwarz price at 4:43 p.m. CEST on October 20, 2026, versus the Xetra close of October 19, 2026 at EUR 9.32.

Analyst view meets higher revenue

Goldman Sachs is the most recent named analyst view in the reviewed estimates, while the broader 12-month consensus is EUR 9.85 from 20 analysts. The consensus comprises 5 Buy ratings, 12 Hold ratings and 3 Sell ratings, according to Investing.com.

Terna's first-half 2026 revenue rose 12.00 percent year over year to EUR 2.10 billion. Earnings before interest, taxes, depreciation and amortization increased 8.00 percent to EUR 1.50 billion, while net income rose 1.00 percent to EUR 591.00 million, figures reported for the period ended June 30, 2026 by Investing.com.

Terna stock stays within its yearly range

The EUR 9.38 Lang & Schwarz price is 9.90 percent above the 52-week low of EUR 8.70 and 9.90 percent below the 52-week high of EUR 10.41, with both levels dated October 20, 2026. Trading volume on the Milan listing was 843,623 shares at 4:45 p.m. CEST, while the market capitalization was EUR 18.8 billion.

Valuation and next reporting date

Terna's price-to-earnings ratio was 17.04 on October 20, 2026, compared with 23.02 for Enel and 17.17 for Snam. The next earnings date is November 12, 2026, according to Simply Wall St.

Comparison with peers

Terna: plus 0.86 percent, price-to-earnings ratio 17.04, market capitalization EUR 18.8 billion.

Enel (Borsa Italiana, EUR): plus 2.14 percent, price-to-earnings ratio 23.02, market capitalization EUR 91.5 billion.

Snam (Borsa Italiana, EUR): plus 0.79 percent, price-to-earnings ratio 17.17, market capitalization EUR 19.6 billion.

Price and valuation in view

Terna's current quote sits below the analyst consensus target but above Goldman Sachs' target. The contrast places the stock's valuation and the timing of the November reporting date at the center of the next market assessment.

Terna was trading at EUR 9.38 at Lang & Schwarz on October 20, 2026 at 4:43 p.m. CEST, plus 0.69 percent versus the Xetra close of October 19, 2026 at EUR 9.32. The further course of trading is shown by the continuously updated real-time quote of Terna stock.