Berenberg Keeps EDP Renováveis at Buy Amid 'Optimism' on Longer-term Growth Prospects

07:17 AM EDT, 09/11/2026 (MT Newswires) -- Berenberg retained EDP Renováveis' (EDPR.LS) buy rating, with an unchanged price target of 15 euros, as analysts noted "optimism" on the group's longer-term growth prospects. "Increasing power demand (data centres and electrification), improving pricing and pipeline visibility underpin EDP Renováveis' (EDPR) US and European-focused growth prospects. These tailwinds, combined with management's recent upgrade to its 2026E guidance and its confidence in delivery of its 2027-28 business plan, warrant optimism over EDPR's longer term outlook," the Friday note said. Zooming in on 2026, the research firm raised its asset rotation gains forecast after the company's revised guidance. "However, we have erred on the side of caution for the remainder of EDPR's plan (2027E-28E) and beyond: 1) for 2027E-28E, we forecast EUR200m pa gains (at c15% of invested capital), in line with EDPR's 2025 capital markets day (CMD) guidance; and 2) we assume no AR beyond 2028E," analysts said, while still acknowledging upside risk to their forecasts. Against this backdrop, Berenberg trimmed its EPS forecasts for 2026 through 2028, noting it had updated its renewables model to account for recent disposals, higher finance costs and currency impacts. Meanwhile, EBITDA and EBIT estimates were raised across the three-year period.