UBS starts Grenergy with 'buy', expecting it to outgrow peers

Grenergy Renovables SA

01/09/2025 15:49

** UBS initiates coverage of Grenergy GREG.MC with a "buy" rating and a PT of 95 euros, as it expects the Spanish renewable energy company to outpace its peers

** The brokerage says a "turning point" has been reached for battery energy storage systems (BESS) as their capital expenditure has fallen by more than 50% in just two years

** "Grenergy is well-placed to benefit as an early mover, with a large and well-diversified batteries portfolio," UBS says

** It also estimates Grenergy will deliver 29% net income growth in the 2024-2029 period, "well above peers at 11% and the sector at 8%"

** Including the session's rise the stock has gained 107% since the beginning of the year

 (Reporting By Javi West Larrañaga)

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