DB lifts Verbund to 'hold' on expected power price surge, shares rise

VERBUND AG

28/09/2026 09:26

** Verbund VERB.VI shares rise 3% after Deutsche Bank upgraded the Austrian power provider to "hold" from "sell" on higher medium-term power prices
** "The medium-term power price surge more than offsets the profit warning we expect at some point this year," DB says
** The broker points to the forecast for contract power prices in Austria to rise 28% next year and 17% in 2028
** It notes that near-term hydro power conditions remain challenging; it expects 2026 earnings "well below" the utility's current outlook
** DB raises PT by 10% to €66
** Stock, up nearly 20% since the beginning of July, is among top gainers on Austria's blue-chip index .ATX
($1 = 0.8793 euros)
     

(Reporting by Danny Callaghan)
((Danny.Callaghan@tr.com))