Barclays Forecasts Enel Stock Outperformance After H1 Beat; Overweight Rating Maintained

07:26 AM EDT, 07/31/2026 (MT Newswires) -- Enel's (ENEL.MI) better-than-expected first-half results and raised full-year 2026 outlook position the energy company for near-term stock outperformance and consensus EPS upgrades, Barclays said in a Thursday note. "Strong Spain/LatAm delivery, lower financial costs and an attractive valuation reinforce our positive view and confidence in post-[capital markets day] execution," the research firm wrote. For the first six months of 2026, Enel reported ordinary EBITDA of 11.84 billion euros and group net ordinary income of 3.93 billion euros, which Barclays noted were 1.5% and 5% above company-compiled consensus, respectively. Additionally, analysts highlighted the full-year EPS outlook upgrade as a "key positive," with Enel now targeting ordinary EPS of 0.74 euro, sitting at the top end of the original 0.72 euro to 0.74 euro guidance range. "Overall, this was not just a decent quarter, but a useful proof point that Enel is converting its post-CMD plan into tangible earnings momentum while maintaining visibility on medium-term targets. The initial market read-across is constructive, with Enel's [American depositary receipts] rising around 1% after publication of the 1H26 results, suggesting investors are already interpreting the update positively," the note said. The stock has an overweight rating, with a price target of 11 euros, at Barclays.