Barclays bets on European utilities as they outperform market

Endesa SA

16/10/2025 08:07

** Barclays sees considerable upside potential for European utilities as it anticipates their earnings bottoming out in 2025, followed by robust growth

** "(We) reiterate our positive view on the sector, driven by power and investment demand growth, supportive macro and undemanding valuation," Barclays says

** The brokerage says the sector is entering an "unstoppable super-cycle", fuelled by demand growth and electrification

** It turns positive on European renewables for the first time in three years, it says, upgrading EDP Renovaveis EDPR.LS and Centrica CNA.L to "overweight" from "equal weight"

** It double downgrades Redeia REDE.MC from "overweight" to "underweight"

COMPANY
RATING
OLD RATING
PT
OLD PT
Centrica CNA.L
Overweight
Equal weight
210p
180p
EDPR EDPR.LS
Overweight
Equal weight
15 euros
9.4 euros
Endesa ELE.MC
Equal weight
Overweight
28.6 euros
28.6 euros
HidroelectricaROH2O.BX
Underweight
Equal weight
120 euros
120 euros
Redeia REDE.MC
Underweight
Overweight
14 euros
20.3 euros

 (Reporting by Javi West Larrañaga)

 ((javier.west@thomsonreuters.com; +34 918 35 61 12))