UBS adds GEK Terna stock to top 20 picks

Published on 10/18/2026 at 13:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

GEK Terna opened a 12-month EMTN program on October 15, 2026. GEK Terna stock had EUR 4.1 billion market value on October 16, 2026.

Capital access and valuation

UBS included GEK Terna in its top 20 European small and mid-cap picks on October 16, 2026, with a EUR 54.00 target.
The EMTN program runs for 12 months and can be renewed annually, according to the company on October 15, 2026.
GEK Terna had a EUR 4.1 billion market capitalization on October 16, 2026.

GEK Terna, GRS145003000, Illustration mit AI erstellt.

GEK Terna (ISIN GRS145003000) entered UBS's Pan-European Small and Mid-Cap Top 20 on October 16, 2026, with a EUR 54.00 price target and a Buy recommendation, according to Parapolitika. The selection adds an analyst valuation signal to GEK Terna's latest financing move.

Financing platform opens

GEK Terna established a Euro Medium Term Note program on October 15, 2026. The company said the program gives it access to the Eurobond market and remains valid for 12 months, subject to annual renewal, in its GEK Terna release.

The financing framework follows investment-grade ratings from S&P Global Ratings and Moody's. S&P assigned a BBB- issue rating to a EUR 1.0 billion EMTN program on October 14, 2026, and said proceeds could support investment projects, working capital and debt repayment, according to S&P Global Ratings.

What supports the target?

GEK Terna's first-half 2026 revenue rose 10.93 percent to EUR 2.1 billion, while adjusted EBITDA increased 12.22 percent to EUR 356.0 million, according to Kathimerini. Concessions generated 63 percent of adjusted EBITDA, making the business mix more dependent on long-term infrastructure cash flows.

Three dated developments

On May 7, 2026, S&P assigned GEK Terna a BBB- issuer rating, as noted in its October 14 rating report. On October 15, 2026, GEK Terna established the 12-month EMTN program. On October 16, 2026, UBS added the company to its top 20 list and set a EUR 54.00 target, according to Parapolitika.

Next reporting date

Investing.com lists November 27, 2026, as the next earnings report date for GEK Terna. That date gives the market a scheduled point for testing whether the concession-led earnings trend continues.

Capital structure and valuation

GEK Terna had a EUR 4.1 billion market capitalization on October 16, 2026, with a 52-week range of EUR 22.50 to EUR 48.32. The Athens-listed group says it operates across construction, energy and real estate, while its concessions portfolio provides the long-duration cash-flow base behind the UBS thesis.

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