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Barclays has upgraded Endesa SA to "Overweight" from "Equal Weight," raising its price target by 9% to €26.4 per share, driven by potential nuclear plant extensions in Spain. The firm anticipates a 5% increase in earnings forecasts due to stronger retail margins and higher EBITDA contributions.Endesa is well-positioned to benefit from a possible nuclear renaissance, particularly as Spain approaches a decision on extending the life of its nuclear plants, with the Almaraz 1 plant's extension application deadline set for Q4 2025.
Barclays has upgraded Endesa to "overweight" from "equal-weight," citing growth potential linked to investments in distribution networks and regulated power generation. The firm highlights the significance of the Almaraz 1 nuclear plant's life extension application, which could lead to renegotiation of the 2019 shutdown agreement, benefiting utilities and consumers alike. Endesa's low leverage allows for expected dividend increases over the next three years, with a target price raised by 9% to €26.4 per share.
Enel SpA is resuming acquisitions after a two-year focus on debt reduction, agreeing to purchase Acciona Energia's hydro-power portfolio in Spain for €1 billion ($1.05 billion) through its subsidiary Endesa. This move marks a significant shift in strategy for Italy's leading utility.
Endesa, S.A.
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Barclays upgrades Endesa on potential nuclear plant extensions in Spain
16:06 18.03.2025
Barclays upgrades Endesa citing nuclear extension benefits and growth potential
09:28 18.03.2025
Enel acquires Acciona Energia's hydro-power assets in Spain for 1 billion euros
20:25 15.11.2024
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