Berenberg Reaffirms EUR 15 Target for EDP Renovaveis Amid Growth Concerns

EDP Renovaveis stock has gained ground as Berenberg reaffirmed its Buy rating and EUR 15 target. The analyst firm trimmed earnings per share estimates for 2026 to 2028 due to higher funding costs and currency effects, but sees the growth pipeline and upgraded 2026 guidance as offsetting these pressures.

Berenberg's constructive stance is driven by strong expected demand from data centers, which it believes will drive capacity additions in the long term. The firm argues that long-term tailwinds for renewable capacity remain intact.

The stock has traded between EUR 9.74 and EUR 14.67 over the past year, with a current price of EUR 12.95. This places the shares about EUR 1.72 below the 52-week high but still above the 52-week low by EUR 3.21.

The path to Berenberg's EUR 15 target depends on EDP Renovaveis' ability to execute its development plans without undue margin pressure from financing costs or adverse currency shifts.