Goldman Sachs Boosts Iberdrola Stock Rating, Sets New Price Target
Iberdrola's stock price is on the rise after Goldman Sachs upgraded its target to EUR 25 from EUR 21 and switched its rating to 'Buy' from 'Neutral'. The move was based on stronger earnings growth, dividend potential, and a larger grid investment outlook through 2031. This upgrade comes after Iberdrola reported a 22% increase in first-half profit to EUR 4.33 billion.
The current stock price is EUR 20.82, up 0.43% from the prior close of EUR 20.73. The average target among 31 firms remains more restrained at EUR 20.93. Iberdrola's investment mix is also being closely watched, with 63% of first-half investment going to networks.
The company will present its nine-month results on October 21, which will test whether the first-half profit increase carries into the second half.