Kepler Cheuvreux upgrades Vopak stock with EUR 68 target

Published on 10/18/2026 at 13:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The revised view put Vopak's target at EUR 68.00 on October 15, 2026 and switched to Buy. Vopak stock posted 91.00 percent occupancy in first-half 2026.

Cash flow and reporting dates

Kepler Cheuvreux upgraded Vopak from Hold to Buy on October 15, 2026, with a EUR 68.00 target.
Vopak raised its fiscal year 2026 proportional EBITDA outlook to EUR 1.18 billion to EUR 1.22 billion.
The next interim update is scheduled for November 4, 2026.

Architektur-Rendering einer modernen Tanklager-Anlage mit Bürogebäude am Wasser — Koninklijke Vopak N.V. (ISIN NL0009432491) entwickelt moderne Tanklager-Anlagen mit zeitgemäßer Architektur am Hafenbecken, Illustration mit AI erstellt.

Vopak (ISIN NL0009432491) became the subject of a fresh analyst upgrade when Kepler Cheuvreux moved its recommendation from Hold to Buy and set a EUR 68.00 price target on October 15, 2026. The target was reported by Markets Insider.

Three milestones shaped the year

Vopak completed the acquisition of a majority stake in Green Energy Storage and took a final investment decision on a 200 MW and 800 MWh battery project in the Netherlands on July 2, 2026, according to the company's investor-relations page. On July 30, 2026, Vopak reported first-half occupancy of 91.00 percent, proportional EBITDA growth of 5.00 percent and a higher fiscal year 2026 outlook in its results update, as documented in the Yahoo Finance transcript. The October 15 analyst upgrade is the latest of the three dated developments.

What supports the outlook?

The first-half update put proportional EBITDA at EUR 600 million and operating cash return at 15.30 percent, while EBITDA-to-cash conversion reached 74.00 percent. Vopak's raised fiscal year 2026 guidance calls for proportional EBITDA of EUR 1.18 billion to EUR 1.22 billion and proportional operating free cash flow of EUR 820.00 million, according to Yahoo Finance. The same update said Vopak had committed EUR 371.00 million to Green Energy Storage and two Dutch utility-scale projects.

Two dates are next

Vopak's investor-relations calendar lists the publication of its 2026 third-quarter interim update for November 4, 2026 and its fiscal year 2026 results for February 18, 2027. Those dates give the next checkpoints for the upgraded analyst view.

Valuation meets a yearly high

Koninklijke Vopak closed at EUR 53.35 on Euronext Amsterdam on October 16, 2026. Its 52-week range was EUR 36.58 to EUR 53.40, while market capitalization stood at EUR 6.1 billion on the same date. The EUR 68.00 target therefore sits above the latest Euronext close, but the next company update will provide the clearest test of the raised operating outlook.